Chevron employees strike at California refinery

Chevron (CVX) has a current dividend yield of 3.45% and is rated as “Safe” by SimplySafeDividends. I hold CVX in my Low Yield Portfolio. In total CVX is 0.7% of my portfolio.

More than 500 Chevron Corp. employees went on strike at a refinery in California on Monday amid a contract stalemate.

The strike comes after the company’s contract with the United Steelworkers Local 5 union expired Feb. 1, according to the United Steelworkers. Union members at the Bay Area plant had been working on a rolling extension and ahead of the strike.

“USW members continued to report for work throughout the pandemic so our nation could meet its energy needs,” said Mike Smith, chair of the United Steelworkers’ National Oil Bargaining Program. “They deserve a fair contract that reflects their sacrifice.”

The Richmond refinery has about 3,000 total employees, according to Chevron.

More Than 500 Chevron Workers Strike at California Refinery – WSJ