Executive changes, job reductions at Chevron Corporation

- Within a three-day span, Chevron Corporation has introduced its next corporate vice president/treasurer and has announced workforce reductions. Chevron Corporation conducted its first quarter 2016 earnings conference call on Wednesday.

Other notable changes at Chevron Corporation in 2016 include introducing Mark A. Nelson as corporate vice president of strategic planning and Stephen W. Green as president of Chevron Asia Pacific exploration and production. Both appointments were effective as of Friday.

The company released the following statement:
In light of the current market environment, Chevron continues to take action by revising organizational structures, increasing efficiencies and reducing expenses. As part of this, we have undertaken a previously announced workforce reduction across our Upstream group. In Houston, this will result in a reduction of approximately 655 positons in 2016. We are sensitive to the concerns of impacted employees, we are providing them a minimum of six weeks transition pay, severance and career transition services.
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