The restructuring is part of a business review "toward capturing efficiencies and directing resources where they will generate the most value," she said. Chevron overall employed 48,200 workers globally at the end of last year, down 7,000 from three years ago. About 53% of its workers, or 25,400 employees, are in the U.S. Chevron's results swung to a loss last quarter on a $10.4 billion impairment charge, mostly from writing down the value of natural gas fields and projects. The U.S. shale boom has led to a glut of crude oil and natural gas in world markets, especially since the coronavirus outbreak has slashed energy demand, with experts forecasting growth this year to be the lowest in a decade. U.S. oil futures have fallen 24% since the year began to $46.69 a barrel and natural gas futures have collapsed 40% since hitting an eight-month high in November. This week, OPEC will consider a further output cut to prevent prices from falling further.