Chevron plans to lay off 575 employees at Hess Tower in Houston following its acquisition of Hess Corp., with job cuts starting Sept. 26.
Houston-based Chevron Corp. (NYSE: CVX) plans to lay off approximately 575 employees from Hess Tower downtown now that it has closed its $53 billion acquisition of Hess Corp.
In a Worker Adjustment and Retraining Notification Act letter to the Texas Workforce Commission, Chevron said it would lay off the employees from 1501 McKinney St., where New York-based Hess had its Houston office. It’s also the headquarters of Hess’ master limited partnership, Hess Midstream LP (NYSE: HESM).
The layoffs will begin on Sept. 26 and are permanent. Affected Houston employees do not have bumping rights and are not part of a union.
“We are working quickly to integrate the Hess workforce and are focused on maintaining safe and reliable operations throughout the transition period,” a Chevron spokesperson said in a statement to the Houston Business Journal. “As part of the integration, we will consolidate or eliminate some positions.”
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