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Investing.com -- Chevron (NYSE:CVX) has cut 575 positions in the Houston area following the completion of its $55 billion merger with Hess (NYSE:HES), according to a Texas Workforce Commission filing revealed on Wednesday.
The layoffs were disclosed in a Worker Adjustment & Retraining Notification dated July 18, which stated that the U.S. energy major eliminated the jobs when the Hess takeover was officially finalized.
According to the notice, the reductions will take effect on September 26.
The merger faced delays for over a year, but Chevron had been making preparations to close the deal quickly once approval was received. Information technology workers from both companies held regular meetings to plan the integration process, and Hess employees were informed they could request severance packages after the deal closed.
In an interview last week, Chevron CEO Mike Wirth indicated that converting technology systems and combining employees from both companies would require a few months to complete.
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