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Chevron to Cut Refinery Jobs, Exit Some Markets

NEW YORK -- Reuters reported Chevron Corp. plans to restructure its refinery operations, cutting some jobs and exiting some markets, a company spokesman said Tuesday.

The company, the fifth-largest refiner in the United States, issued a memo to employees Monday laying out the broad outlines of the restructuring, which is expected to be completed in the third quarter.

"It's going to be a leaner organization with fewer positions, but we have not yet determined the number of positions we need," Chevron spokesman Lloyd Avram said in the report.

The company will exit from certain markets, he said, although which markets the company will leave has not yet been determined.

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