Unocal to Lay Off 100 Workers in Brea
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BREA — Unocal Inc., the Los Angeles-based energy company, plans to lay off 100 employees here in a bid to cut research costs in its science and technology division.
The cuts amount to 13% of the 780 employees at Unocal’s Fred L. Hartley Research Center, said Art Bentley, a company spokesman. The company will begin notifying employees Monday, and the layoffs will occur in August.
Bentley said workers will receive one week’s severance pay for each year of employment, up to 52 weeks. The company hopes the move will result in yearly pretax savings of $15 million to $20 million.
Unocal’s first-quarter earnings fell 2.6%, to $75 million from $77 million a year earlier. Revenue was up 3.2%, to $2.7 billion from $2.6 billion a year earlier.
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