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Stock impact report

Chevron Makes Leadership, Organizational Changes in Bid to Simplify [Yahoo! Finance]

Hess Corporation (HES) 
Last hess corporation earnings: 1/29 07:30 am Check Earnings Report
US:NYSE Investor Relations: hess.com/investors
Company Research Source: Yahoo! Finance
The company announced plans on Feb. 12 to lay off up to 20% of its workforce by the end of 2026, citing the need to cut costs and simplify its business amid its pending merger of Hess Corp. Chevron's oil, products and gas organization will be consolidated into two segments: upstream as one segment and downstream, midstream and chemicals as the second segment, the company said. The upstream model will drive value across shale and tight, base assets and emerging countries, Offshore, Eurasia and Australia, Chevron said. Clay Neff, currently president of international E&P, has been named president of upstream, effective July 1. Bruce Niemeyer, currently president of Americas E&P, has been named president of shale and tight, effective July 1. Chevron said the downstream, midstream and chemicals model will center around “key work processes,” including operations, commercial, customer and enterprise value chain optimization. Andy Walz will continue as president of downstream, mi Show less Read more
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