Chevron to cut hundreds of jobs in Houston

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Chevron plans to cut hundreds of jobs in Houston (AP)

We've learned just how many jobs will be cut because of ongoing restructuring at Chevron. The company announced today it's reducing its workforce by 655 jobs here in Houston.

Chevron says the local job cuts are part of an "anticipated reduction of 4,000 employees in 2016."

Chevron released this 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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