Most of the news we report out of the Bay Area is pretty positive when it comes to commercial real estate. Unfortunately, some activity in San Ramon lately isn’t that fortunate.

The oil giant Chevron is cutting 500 jobs from its headquarters there. It’s part of an effort to reduce costs by $1 billion. Chevron currently employs about 6,500 employees in the Bay Area, and about 3,200 are in the Bishop Ranch development.

One upside is that the shutting of Chevron’s Concord plant could move more jobs to San Ramon.