Chevron CEO's pay up by 4% to $23.6 mn in 2022 amid payroll cuts

Oil giant Chevron's CEO Michael Wirth was paid $23.6 million in 2022, a 4% increase from the previous year. Chevron's profit more than doubled in 2022 from the previous year to record $36.5 billion due to high energy prices and cost-cutting measures including payroll cuts. According to a securities filing, the median annual compensation for employees fell 12% to $161,488.