Texaco To Cut HQ Staff by 75 Pct
Jan. 27, 1998
HARRISON, N.Y. (AP) _ Texaco Inc. plans to cut the staff at its headquarters north of New York City by about 75 percent, shifting some employees to overseas operations.
There may be as few as 250 Texaco employees in the corporate office of the oil and natural gas giant, down from the current 1,100, spokeswoman Cynthia Michener said Monday.
She said Peter Bijur, the company's chief executive, told employees late last week that he wants to disperse many of the operations now housed in Harrison to their unit headquarters around the world.
Oil traders now working in Harrison, for example, could be sent to oil trading headquarters in London.
The smaller corporate center would focus on leadership development, strategic development, policy development, fiscal oversight and communications, Ms. Michener said.
Employees who aren't among those remaining in Harrison and don't move to other units will probably lose their jobs.
Texaco will look for a tenant to fill a third of the space in its 750,000-square-foot complex. If that search fails, the company might have to leave the building that has been its headquarters since 1977.
Texaco had strong profits last year but does not expect the same growth this year.