Chevron Nigeria Limited, CNL, operator of the joint venture between the Nigerian National Petroleum Corporation (NNPC) and CNL has concluded plans to sack 25 per cent of its workforce in Nigeria.

The decision is targeted at cutting the cost of its operations, which has been greatly challenged by current issues, especially low crude oil prices and the Coronavirus pandemic in the industry.

In a statement obtained by newsmen, CNL’s General Manager Policy, Government and Public Affairs, Esimaje Brikinn, stated: “The aim is to have a business that is competitive and have an appropriately sized organisation with improved processe.

“This will increase efficiency and effectiveness, retain value, reduce cost, and generate more revenue for the Federal Government of Nigeria. According to him, the new organizational structures will, unfortunately, require an approximately 25 percent reduction in the workforce across the various levels of our organisation.

“It is important to note that all our employees will retain their employment until the reorganization process is completed.”

He stated: “CNL supports the Federal Government in its objectives and efforts to build a prosperous Nigeria. In the area of employment generation, the company has several social investments, which are helping to provide employment for thousands of Nigerians.”

Continuing, Brikinn, stated: “We have prospects for our company in Nigeria; however, we must make the necessary adjustments in light of the prevailing business climate; and we need everyone’s support to get through these tough times stronger, more efficient and more profitable, in order to sustain the business.”

Brikinn, who explained that CNL was in alignment with both its Joint Venture partners, the NNPC, and the Department of Petroleum Resources (DPR), stated: “We are actively engaging our workforce to ensure they understand why this is being done. We will continue to consistently engage all relevant stakeholders, including the leadership of the employee unions as we continue this process of business optimisation.”

He added: “At CNL, the welfare and safety of our workforce is one of our highest priorities. Making changes to the organization is never easy for anyone that will be impacted, but it is necessary to improve our ability to remain competitive in Nigeria. Reducing the cost and improving the efficiency of our operations is critical to generating more revenues for the Federal Government of Nigeria.”