Chevron Thailand to lay off 800 staff, cut costs by $500 mn

US oil firm Chevron plans to cut 800 staff this year in Thailand as it looks to cut half a billion dollars in costs at the Thai unit to weather the global energy price slump, the company said on Monday. Chevron slashed costs worldwide in the first quarter, but the cuts were not deep enough to prevent the firm reporting its biggest loss in 15 years amid a glut in international fuel supplies. The firm is Thailand's largest oil and gas producer. (reuters)