Oil and gas companies worldwide are taking an axe to their employment rolls, shedding workers to survive what is expected to be a prolonged stretch of weak demand. Exxon Mobil Corp <XOM.N> said it will cut its workforce by 15%, or about 14,000 people, along with oil majors Chevron Corp <CVX.N> and Royal Dutch Shell Plc <RDSa.L>. All told, more than 400,000 oil and gas sector jobs have been cut this year, according to Rystad Energy, with about half of those in the United States, where several big exploration companies and most large oil service companies are headquartered.
Exxon Mobil and Chevron saw positive earnings estimate revisions before the earnings announcement.
The Board of Directors of Chevron Corporation (NYSE: CVX) declared a quarterly dividend of one dollar and twenty-nine cents ($1.29) per share, payable December 10, 2020, to all holders of common stock as shown on the transfer records of the Corporation at the close of business November 18, 2020.