Chevron has revealed plans to lay off up to 20% of its global workforce as part of a cost-saving initiative aimed at reducing expenses by approximately $3 billion. The layoffs could affect as many as 9,100 employees and are expected to occur by 2026. The Houston-based oil giant aims to streamline operations and enhance efficiency while responding to ongoing pressures in the oil industry. Reports indicate that the company will be cutting thousands of jobs, impacting various locations including California and Texas.