Chevron Cuts Almost 800 from Workforce in Permian
Reuters reported in February that the supermajor would reduce its global workforce by up to 20%—about 8,000 people—as part of an effort to cut costs, simplify its business and complete a major acquisition.
Houston-based Chevron has faced production challenges including cost overruns and delays in a large Kazakhstan oilfield project. Its $53-billion deal to acquire oil producer Hess and gain a foothold in Guyana's lucrative oilfield is in limbo while a protracted court battle with rival Exxon Mobil plays out.
A consolidation trend that swept the upstream space through the end of 2024 has resulted in several large layoff announcements in Texas. In October, Marathon Oil advised the TWC of its plan to cut more than 500 jobs once its merger with ConocoPhillips closes.
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Yahoo
6 minutes ago
- Yahoo
JotPsych Secures $5M Seed Round from Base10 Partners, Fast-Tracking Transition to First Fully Agentic EHR
WASHINGTON, July 29, 2025 /PRNewswire/ -- JotPsych, creator of the leading AI scribe for behavioral health, today announced it has raised $5 million in seed funding led by Base10 Partners. JotPsych's core initial offering is an AI-scribe for behavioral health providers. The software reduces documentation time by 90%+ and is radically customizable and responsive to clinician's preferences and behaviors. In 2024, JotPsych grew by over 1300% and has now processed over 1,000,000 patient encounters. Base10's commitment positions JotPsych to rapidly transform from a best-in-class AI scribe into the first fully agentic Electronic Health Record (EHR). Founded by CEO Nathan Peereboom and CTO Jackson Bierfeldt in 2023, JotPsych launched with a singular goal: to fully eliminate administrative tasks for behavioral health clinicians. The AI scribe functionality was always step one of a broader vision: to become the "spinal cord" of every clinic, automating scheduling, billing, e-prescriptions, care coordination, and more under one "agentic" umbrella. "When we launched JotPsych, our mandate was simple: slash the 4+ hours a day clinicians waste on narrative paperwork," said CEO and Co-Founder Nathan Peereboom. "Now, with Base10's support, we're shifting into high gear to build the first AI EHR that streamlines every leg of the patient journey. By removing any liquidity concerns for the foreseeable future, this partnership grants us our most precious resource: focus." Base10's investment will accelerate product velocity—enabling JotPsych to hire engineering talent, ramp up research and development, and offer a more complex product to customers. JotPsych's upcoming features will integrate intake forms, automated coding and billing, prescription management, and intelligent scheduling, all while leveraging real-time patient data to dramatically reduce the burden on clinicians and improve patient outcomes. "We believe AI will transform healthcare, and JotPsych has the right team, technology, and traction to lead that charge," said Rexhi Dollaku, General Partner at Base10 Partners. "In the next few years, there will be a landgrab among agentic EHR solutions—platforms that don't just document care but actively orchestrate it. JotPsych is positioned to pioneer this new era." About JotPsychJotPsych (SmartScribe Corp) is a healthtech startup pioneering the first fully agentic EHR. JotPsych's AI platform eliminates administrative overhead, allowing clinicians to focus on patient care. For more information, visit About Base10 Partners Founded by Adeyemi Ajao and TJ Nahigian, Base10 is a San Francisco-based venture capital fund investing in founders who believe purpose is key to profits and in companies that are automating sectors of the Real Economy. Through its program the Advancement Initiative, Base10 donates a portion of firm profits to underfunded colleges and universities to support financial aid and other key initiatives. Portfolio companies include Notion, Figma, Stripe, Popmenu, and Nowports. Connect via For media or career inquiries, please reach out to contact@ View original content: SOURCE JotPsych Sign in to access your portfolio
Skift
7 minutes ago
- Skift
Royal Caribbean Sees More Last-Minute Bookings, Plans Loyalty Changes
Royal Caribbean's passengers are definitely spending. Its plans to improve how its loyalty program and co-branded credit card reward guests may fuel future growth. Royal Caribbean Group said that booking rates have accelerated since April, driven by last-minute reservations. 'Our second quarter results exceeded expectations mainly driven by stronger-than-expected close-in demand,' said CEO Jason Liberty in an earnings call. 'Bookings have accelerated since the last earnings call, particularly for close-in sailings.' The company delivered over 2 million vacations in the quarter, a 10% increase year-over-year. Half of its customers were millennials or younger. The results let the Miami-based cruise giant raise its annual profit forecast on Tuesday, banking on resilient demand for its luxury destinations as the cruise operator reported its second quarter with the highest margins in about 20 years. 'We continue to see engaged and excited consumers with roughly 75% intending to spend the same or more on leisure travel over the next 12 months,' Liberty said. 'At the same time, more than half of consumers tell us they are booking closer to their departure date than they used to. And for the people who intend to travel over the next 12 months, the majority have not yet booked.' Loyalty News Coming Cruise lines don't do as good of a job at making their loyalty program and co-branded credit cards drive direct bookings as major hotel groups do. That said, Liberty wants Royal Caribbean to do better, after having integrated all of its brands into one rewards program last year. Liberty acknowledged the company's co-branded credit card 'is tied today to our loyalty program, but not in the way that fits our ambition.' He said passengers would see 'something very meaningful coming out of that very, very soon' as the company works with its credit card provider. 'The number of loyalty members that are sailing with us has now inched up to 40%,' Liberty said. 'Our loyalty members who spend 25% more per trip.' 'Nearly 50% of onboard purchases are now coming through the mobile app compared to one-third at the end of 2023.' 'Our guests are very focused on recognition and also being incentivized for the spend and loyalty that they provide,' the CEO said. 'Especially on the loyalty program side, we are very tuned into and have a lot of plans on what things our guests and our brands feel are a value to them that would result in them behaving even more loyal to us.' The executive framed loyalty as closing the gap with hotels and resorts in attracting guests at a comparable price point. 'If somebody goes outside our ecosystem to another cruise competitor or somebody else on land, then we should look at that as a fail,' Liberty said. 'Every one percentage point [of market share stolen from hotels] is worth a tremendous amount of money.' Cost Pressures Loom Royal Caribbean's performance comes as the industry faces pressure from rising costs. The company expects expenses to climb about 230 basis points in the third quarter, driven partly by higher fuel costs linked to escalated Middle East tensions. Higher tariffs could also impact shipbuilding and supply costs, keeping cruise operators on edge. Capacity Expansion Royal Caribbean has been investing heavily in new ships and private destinations to attract both seasoned cruisers and first-time customers. The company took delivery of Star of the Seas earlier this month and expects Celebrity Excel to launch by year's end. The cruise line anticipates capacity increases of 5.5% in 2025 and 6% in 2026 as it adds seven new ships over the next few years. The expansion includes private beach destinations like Royal Beach Club Paradise Island, which opened for bookings with what Liberty described as 'incredibly strong' early demand. In late 2027, it will debut Perfect Day in Mexico, a private destination that's approximately the size of the Magic Kingdom in Orlando in footprint, though with much fewer guests. Getting Better at Upselling Royal Caribbean has proven adept at getting customers to spend beyond their initial cruise fare. Onboard and other revenue rose 9.5% to $1.3 billion in the quarter. Guest spending onboard the ships and pre-cruise purchases are still above the prior year's levels despite higher overall pricing. 'Customers who purchase onboard experiences before their cruise spend about 2.5 times more than those who do not buy pre-cruise,' Liberty said. Results Net income was $1.2 billion, up from $854 million. Total revenue grew 10.4% from the same period a year ago to $4.54 billion. Net yield grew 5.2%, outpacing the company's projections by 70 basis points. For 2025, the company expects net yield growth between 3.5% and 4%, supported by new ships and continued success at its private destinations. 'Looking back on the 1H, our data indicates that cruise operators held prices throughout March/April and moderated pricing only marginally for the 4Q/1Q during May/June,' wrote Brandt Montour in a report for Barclays. 'Nothing wrong with cruising, for right now. But the key is: for right now. Royal Caribbean seems to be a bit more cautious about Q3, said Tracey Ryniec, stock strategist at Zacks Investment Research. 'They are not allotting for further yield growth, even though it may happen.' Royal Caribbean Group CEO Jason Liberty will speak on stage at Skift Global Forum in New York City in September. Royal Caribbean CEO's Premium Push: Better Pricing, Shorter Cruises, Younger Passengers Royal Caribbean Group's CEO Jason Liberty has a strategy to push his customer base upmarket. Liberty believes there's more willingness among consumers to pay more for premium leisure travel than previously assumed. Read More What am I looking at? The performance of cruise and tours sector stocks within the ST200. The index includes companies publicly traded across global markets including both cruise lines and tour operators. The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more cruise and tours sector financial performance. Read the full methodology behind the Skift Travel 200.
New York Post
7 minutes ago
- New York Post
Paris Hilton's $63M mansion buy led US home sales in June
Paris Hilton and her husband led the US real estate market in June with their pricey purchase of Mark Wahlberg's former megamansion. The mammoth Beverly Hills estate cost Hilton and her venture capitalist husband, Carter Reum, a cool $63 million. Their purchase topped out Redfin's top 10 list of the country's most expensive home sales, as did five other California-based transactions. Agents told CNBC the recent ranking reflects a pattern of luxury real estate regaining momentum in fire-ravaged Los Angeles. Advertisement 9 Paris Hilton, pictured in June. GC Images 9 Hilton and her husband, Carter Reum, share two children — and a new place to call home. Evan Agostini/Invision/AP 9 Wahlberg and his wife Rhea Durham sold the impressive property for $55 million in 2023. Paul Barnaby Advertisement Indeed, Hilton and Reum, who share two young children, lost their $8.4 million oceanfront Malibu home to the Palisades Fire — one of several that raged through the state in January. Hilton was candid about the loss in a post to her millions of Instagram followers. 'Sitting with my family, watching the news, and seeing our home in Malibu burn to the ground on live TV is something no one should ever have to experience,' the heiress and influencer wrote. The sheer scale of her family's new home makes its eye-watering $63 million price a little more understandable. 9 A sun-lit dining room. Paul Barnaby Advertisement 9 One of two kitchens in the main house. Paul Barnaby 9 A wine and cigar cellar with a tasting area. Paul Barnaby 9 The outdoor pool includes a grotto, waterfalls and waterslides. Paul Barnaby The nearly 30,500-square-foot spread sits on 6 private acres. The extensive grounds feature a sports court, a skate park, a five-hole golf course and a pool worthy of a waterpark. A main house and a guesthouse include a collective 12 bedrooms — as well as a wine and cigar cellar, a home theater and staff quarters. Advertisement The mansion's sellers made a tidy profit from the deal, CNBC reported, even accounting for Los Angeles' hefty mansion tax. Their success makes Mark Wahlberg's $55 million sale of the home in 2023 look sadly premature. Hilton and Reum's purchase is currently the fifth priciest home sale of 2025, according to Redfin. Nicole Plaxen, an agent with the Beverly Hills Estates, told CNBC that LA's luxury market is being driven by displaced homeowners like Hilton. Plaxen also noted a return in foreign buyers, especially from China. 9 The Palisades Fire claimed modest starter homes and A-lister mansions alike. London Entertainment for NY Post 9 Hilton closed on the home five months after losing her family's Malibu beach house. Paul Barnaby The other 50% of Redfin's chart-topping June sales took place elsewhere: Three in coastal Florida, one in Manhattan and another on Lake Tahoe's Nevada side. All 10 sold for more than $30 million. New York's appearance in the June rankings was credited to the sale of a 50-foot-wide mansion in Midtown Manhattan. The sprawling 22-bedroom residence just off Fifth Avenue was built for a cousin of J.P. Morgan during the city's Gilded Age. The seller, previously reported at real estate developer Orin Wilf, cinched a $38.2 million deal on the property. Neither Wilf's sale nor Hilton's purchase comes even close to the year's most expensive deal so far. That superlative belongs squarely with the $225 million sale of three adjacent beachfront properties in Naples, Florida. The April transaction marked the second-highest home sale ever in the US, trailing Ken Griffin's $238 million penthouse purchase at 220 Central Park South in early 2019.
