Chevron to sell its global headquarters in California, but remain based in state, as it downsizes offices

Chevron Corp.
CVX,
+1.64%
is planning to sell its current headquarters in California and is offering to cover costs for some employees to relocate to Texas, the latest move by a large U.S. employer to downsize its offices.

The second-largest U.S. oil company said it would remain based in California, its home state for more than 140 years, but will be leaving its Chevron Park campus in San Ramon, Calif., its global headquarters for two decades.