Chevron, one of the world’s largest oil producers, is set to lay off nearly 800 employees in Midland County, Texas, as part of a broader effort to reduce its global workforce by 20% by the end of 2026. The decision, disclosed in a notice filed with the Texas Workforce Commission on Wednesday, marks another significant development in the company’s ongoing cost-cutting strategy.

The layoffs, set to take effect from July 15, will impact workers at Chevron’s operations in the Permian Basin—one of the most critical oilfields in the United States. This move follows the company’s earlier notification in March that it would lay off at least 600 employees in California, with those job losses becoming effective on June 1.

In a February statement, Chevron had revealed plans to reduce its global headcount in a bid to streamline operations and improve overall efficiency. The energy giant is navigating a period of heightened uncertainty, particularly after facing a major setback in Venezuela, where its license to operate was revoked.

Adding to the pressure is the current uncertainty surrounding its proposed $53 billion acquisition of Hess Corporation, which is now caught in a high-stakes arbitration dispute.

Chevron's latest workforce reduction forms part of a wider trend within the energy sector, as companies confront geopolitical volatility, regulatory roadblocks, and a rapidly evolving energy landscape.

The company's decision underscores its commitment to trimming operational costs and increasing agility amid ongoing market disruptions. While the announcement has raised concerns among industry observers and impacted communities, Chevron has yet to provide detailed information on the roles affected or the support measures that will be extended to employees.