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2mo ago

Chevron to Lay Off 575 Legacy Hess Employees in Houston This September

A WARN Act notice indicates the September 26 cuts will streamline operations following Chevron’s $55 billion Hess takeover.

Chevron's more than $50 billion acquisition of Hess Corp. finalized July 18 after the International Chamber of Commerce ruled in its favor over Exxon Mobil, clearing the way for Chevron to tap into Hess’ 30% stake of a more than 6 million-acre oil and gas rich area offshore Guyana.
Chevron and Hess logos are seen in this illustration taken, October 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo
Chevron and Hess logos are seen in this illustration taken, October 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

Overview

  • Chevron submitted a Worker Adjustment and Retraining Notification to the Texas Workforce Commission for permanent elimination of about 575 positions at Hess Tower in downtown Houston.
  • All targeted roles are from former Hess operations and will be cut without bumping rights or union protections.
  • Affected employees will receive severance packages and outplacement support as the company consolidates its Houston footprint.
  • The layoffs follow Chevron’s July 18 completion of its $55 billion acquisition of Hess after winning a legal dispute with Exxon Mobil over Guyana offshore assets.
  • These cuts form part of Chevron’s global plan to reduce up to 20% of its workforce by 2026 as it integrates Hess assets and responds to softer refining profits.