Lights out for Unocal: Chevron begins layoffs at El Segundo offices.As predicted, Chevron Corp. has begun laying off staff at the headquarters of the former Unocal Corp., which the San Ramon San Ramon (Spanish for "Saint Raymond") may refer to one of the following places:
The numbers are small--about 30 of the 130 or so people working at the El Segundo El Segundo (ĕl sēgŭn`dō), industrial city (1990 pop. 15,223), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1917. Its products include navigation and computer systems, aircraft parts, office machines, telephone apparatus, and headquarters. More are expected to get the ax at the end of the month, even as others are being offered jobs at Chevron. "About 90 percent of the Unocal employees had offers to work for Chevron, but most people didn't take them," said Unocal spokesman Mike Thacher. "People didn't want to move to Houston or San Ramon." Chevron said it expected to save $325 million by eliminating duplicative operations, with the lion's share of those savings coming from eliminating employee positions. Overall, Chevron has announced that 5,000 of Unocal's 6,400 workers will keep their jobs, while most of the remaining 1,400 will be offered different jobs. Many of Unocal's employees work in Thailand, Indonesia and elsewhere around the world. Unocal also has marketing and trading offices in Texas, Calgary, Canada, and Singapore. "They knew nobody would take the jobs," aid analyst Fadel Ghait of Oppenheimer & Co., who called the job offers a symbolic gesture. "Redundancy was absolutely part of the plan. That's why CNOOC's offer would have been better for Unocal employees. They promised not to lay people off." The lights aren't all out yet at Unocal's headquarters. A group of lawyers, accountants and insurance people will stay well into next year to work out retirement and severance The act of dividing, or the state of being divided. The term severance has unique meanings in different branches of the law. Courts use the term in both civil and criminal litigation in two ways: first, when dividing a lawsuit into two or more parts, and second, when issues. Thacher said most of his communications staff was offered jobs, while company spokesman Barry Lane Barry Lane (born June 21, 1960) is an English professional golfer. Lane was born in Hayes, Middlesex. He turned professional in 1976 and first played on the European Tour in 1982. , the public face of Unocal since the 1970s, will retire. Thacher himself will be looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a new job. "We figured we were all dead ducks dead duck n. Slang One doomed to failure or to death. dead duck Noun Slang something that is doomed to failure Noun 1. , but all my staff got offers," he said. "Not me though. I'm here for three more weeks, then I'm gone." |
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