Chevron to lay off 125 employees in Denver office starting July 1

Chevron Colorado s largest oil and gas producer plans to lay off about employees in its Denver office starting July as part of an effort to cut costs companywide The company reported in a letter to the Colorado Department of Labor and Employment that the job cuts would be permanent and that the employees aren t members of a union The announcement comes as oil prices hit a four-year low hovering at around a barrel Tuesday Chevron will try to redeploy employees to other Chevron locations which may reduce the number of layoffs at this location the company declared in the notice required under the Colorado Worker Adjustment and Retraining Notification Act Greater part of the Colorado workforce that manages day-to-day operations and regulatory compliance should be largely unchanged Trudi Lewis Boyd Chevron s corporate affairs manager stated in an email A number of Denver positions will move to the company s headquarters in Houston as part of the reorganization Employees laid off will be offered severance as well as supplemental assistance for healthcare continuation coverage Chevron mentioned Of subject any workforce reduction is a hard decision and we do not make it lightly Boyd announced Earlier this year Chevron announced it planned to reduce its overall workforce up to and to slash costs up to billion by the end of The Wall Street Journal announced that roughly employees could be affected Related Articles Fights persist over oil and gas drilling near Front Range homes six years after restructuring law changed permitting Potency park in mix for what should replace Xcel s last coal plant in state Colorado and Denver notified owners to cut their buildings carbon emissions Did the rules go too far Colorado bill would give new content centers big tax exemptions but critics question if that s necessary or right With Trump s honeymoon very likely over Colorado s Gabe Evans Jeff Hurd tackle tough political terrain Chevron explained in February that it is changing its organizational structure to rely more on global centers around the world The company had approximately employees at the end of In Colorado Chevron s operations are centered in the Denver-Julesburg formation in the northeastern part of the state Chevron has access to roughly acres in the basin according to its website In Chevron acquired PDC Vitality in a billion deal that made it the largest oil and gas company in Colorado