layoffs

Chevron is initiating its layoffs of up to 15% of its global workforce of 45,000 first announced in late May by asking employees to reapply for positions. It closed its $4.1-billion acquisition of Noble Energy this week in which it gained 2,200 employees.

Shell's CEO said the Dutch supermajor has "too many layers" and that the move to downsize will help ensure its future. As a result, at least 9,000 people are expected to leave the oil and gas producer between now and 2022.

Tubular steelmaker Vallourec is latest to join reductions in workforce.

Sandvik and SNC-Lavalin made similar announcements in late March and would take further action if necessary.

Oil exploration and production jobs globally are at about the level they were after deep cuts following the 2014 crash. Now companies need to find more to cut.

Digital advances allow computers to do many of the tedious tasks once done by engineers, which frees them to focus on more interesting tasks.

Layoffs have begun at Occidental Petroleum, which needs to slack costs after buying Anadarko, as well as Apache.