CHEVRON, UNOCAL DETAIL PLANS FOR RESTRUCTURING

Chevron U.S.A. Production Co. and Unocal Corp. have spelled out details of their upstream restructuring programs. Included in Chevron's plan are staff reductions of 1,700 persons due to consolidations and as many as 600 more from previously announced sales of nonstrategic producing leases. It is part of a cost cutting program, announced by Chevron Corp. Chairman Ken Derr early this year, designed to cope with hard times (OGJ, Jan 20, p. 29).

May 11th, 1992
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