(Reuters) -Chevron cut 575 positions in the Houston area after it completed its $55 billion merger with Hess, a Texas Workforce Commission filing revealed on Wednesday. According to a Worker Adjustment & Retraining Notification dated July 18, the U.S. energy major laid off the employees when its takeover of Hess was officially completed. The reductions […]
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Chevron cuts 575 jobs in Houston after closing Hess acquisition, filing reveals
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(Reuters) -Chevron cut 575 positions in the Houston area after it completed its $55 billion merger with Hess, a Texas Workforce Commission filing revealed on Wednesday.
According to a Worker Adjustment & Retraining Notification dated July 18, the U.S. energy major laid off the employees when its takeover of Hess was officially completed.
The reductions will take effect on September 26, according to the notice.
The merger was delayed for over a year but even as the green light for it was awaited, Chevron had been making preparations so it could close the deal with Hess quickly, Reuters previously reported.
Information technology workers from Chevron and Hess met regularly to plan the integration, and Hess employees were informed that they could request a severance package following the deal’s close.
Converting technology and combining employees from both companies would take a few months, Chevron CEO Mike Wirth had told Reuters in an interview last week.
(Reporting by Vallari Srivastava in Bengaluru; Editing by Anil D’Silva)