0.09%QQQQ 50.01 0.08%MSFT 29.99 
1.51%
Digg
Del.icio.us
Newsvine 
Facebook
Stumbleupon
NEW YORK (AP) - Chevron Corp. said about 1,100 employees were eligible for severance payments at the end of the first quarter, after the nation's second largest oil company eliminated the positions as part of a restructuring and reorganization plan.
| CVX | 100.38 |  1.89 |
According to a filing Thursday with the Securities and Exchange Commission, about 300 employees within the company's downstream operations had received severance packages as of March 31. The bulk of the pay outs are expected to be doled out this year, Chevron said. Most of the positions are located outside the U.S.
The reorganization is expected to be completed next year.
Chevron said last week its first-quarter profit rose 10 percent to a record $5.17 billion, as soaring higher oil prices countered weakness in its refining and chemicals units.
Shares rose a penny to $97.45 in premarket trading.
Eritrea is considering five more applications for exploration licences, and will make its decision within the year.
Financial stocks fell on Friday on falling consumer sentiment as led by losses at large regional banks Keycorp and Regions which were hurt by dow...
The One Laptop Per Child project is about to find out whether Microsoft Corp., a...
|
Professional Website Design For Corporate - Get a Free Quote Today
Find the most up to date research from leading investment firms to make the most informed investing decisions
|
© 2008 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives
EMAIL
PRINT
RSS
SHARE
