Market Chatter: Valero Energy to Cut 237 Jobs as Benicia Refinery Shuts Down

MT Newswires Live01-16

Valero Energy (VLO) plans to lay off 237 employees at its Benicia, California, refinery as it permanently winds down operations at the facility, Bloomberg reported Thursday, citing a company letter to California's employment regulator and local officials.

The report said the shutdown, which will affect most of the refinery's workers, will take place between March 15 and July 1.

The affected employees are not unionized, Bloomberg said, adding that the company does not plan to coordinate transition services with local workforce agencies.

Valero Energy did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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