Chevron Phillips Chemical Cuts 130 Jobs in Cost-Cutting Campaign

Chevron Phillips Chemical Co. has cut 130 jobs, primarily in corporate roles, as the first step in its cost-cutting campaign. The reductions involve IT, supply-chain management, and logistics. The company employs around 5,000 people, making the cuts about 2.6% of the workforce. CEO Steve Prusak said the moves are necessary to align the organization with industry realities and prepare for the future. Other energy companies, such as Chevron and Phillips 66, are also undergoing efficiency drives.