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Layoff Scheme In Oil Major Chevron Helps It Improve Diversity Ration


07/25/2020


Layoff Scheme In Oil Major Chevron Helps It Improve Diversity Ration
United States based oil giant Chevron is expecting to reduce the diversity imbalance within the company this year through the cost cutting measures that it has undertaken.
 
The company plans to reduce the dominance of white males in the company and increasing the ratio of women in senior level position in the company. It also plans to restructure the company so that the share of senior jobs that are held by jobs held by women and ethnic minorities increase to 44 per cent within this year from the 38 per cent that was reported by the company last year.
 
In line with almost all major and small oil companies that have been hit hard by the collapse of oil prices this year and the tanking of demand for oil because of the novel coronavirus pandemic, Chevron has also implemented moves to cut down significantly on spending, consolidating business units, and some managers have been asked to reapply for their jobs.
 
Females accounted for less than a quarter of Chevron's executives and senior managers in the United States according to the figures issued by the company at the end of last year. The data also showed that only 22 per cent of those senior managers were filled up by ethnic minorities.
 
In a second round of appointments, the company selected 26 per cent women for global roles, wrote Chief Human Resources Officer of the company, Rhonda Morris, in an email sent to employees this week and reported by the media. The email also said that the company had also selected 29 per cent of the candidates from ethnically diverse candidates in the United States.
 
While confirming the details of the email, a spokeswoman for the company said that those selections were permanent. The spokeswoman also said that the company expected to achieve a diversity ratio of around 44 per cent within the company after the end of all of the appointments mentioned in the email.
 
For years, the oil industry in the United States has predominantly owned and run by white males and that has drawn criticism. The oil industry as well as other parts of corporate America have also been criticized for not taking enough initiative to promote diversity.
 
As of 2019, 46 per cent of the oil industry's workforce was represented by women and people from non-white ethnic backgrounds. According to an IHS Markit analysis for the American Petroleum Institute, employees of non-white ethnic backgrounds will make up about 54 per cent of total job opportunities through 2040.
 
However, they remain a minority in senior management.
 
Executives at Chevron are among those large corporate who have lent support to the "black lives matter" campaign, which has transformed into a global movement against racial injustice after the killing of George Floyd by police officers in Minneapolis.
 
(Source:www.channelnewsasia.com)


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