BrownfieldAgNews reports:
A round of layoffs is set to occur next month at Ames, Iowa-based Chevron Renewable Energy Group.
According to data on the Iowa Worker Adjustment and Retraining Notification website, 70 Chevron employees will be laid off effective June 18th.
The workforce reduction comes amid some uncertainty in the biodiesel industry. As previously reported on Brownfield, a number of Iowa biodiesel plants remain idled in the state due to a lack of guidance for the 45Z tax credit and the current level of RVO volumes.
In 2024, Chevron REG shut down two of its Midwestern biodiesel plants citing poor market conditions resulting from weak biodiesel volumes under the federal Renewable Fuel Standard.
In a statement to Brownfield late Wednesday morning, a company spokesperson said, “Chevron is taking action to simplify our operating model, execute work faster and more effectively, and position the company for long-term competitiveness.” The spokesperson also said, “This is a difficult decision, and we do not make it lightly.”
The company is offering severance benefits and outplacement support for impacted employees.
