The Houston-based energy giant Chevron will lay off 575 employees from the Downtown Hess Tower following its $53 billion acquisition of Hess Corp ., according to the company.

By the end of September, more than 550 Houston-based employees will be without a job following the Chevron merger. Here's how experts say this could impact the industry.

Chevron is expected to lay off more than 500 employees in Houston this fall as part of its integration with Hess Corporation, the company confirmed Thursday.

Chevron’s Hess deal boosts Guyana exposure and adds shale growth, while strong cash flow and returns support its outlook. Learn why CVX stock is a buy.

Houston-based Chevron Corp. plans to lay off approximately 575 employees from Hess Tower downtown now that it has closed its $53 billion acquisition of Hess Corp. © 2025 American City Business Journals.

Chevron Corporation (NYSE: CVX) announced today that it has completed its acquisition of Hess Corporation (NYSE: HES) following the satisfaction of all necessary closing conditions, including a favorable arbitration outcome regarding Hess’ offshore Guyana asset.

Chevron Corp. won its arbitration battle with Exxon Mobil Corp. and has closed its $53-billion deal to buy Hess Corp. more than 20 months after the takeover was announced.

Chevron Corporation (NYSE:CVX) is popular among dividend investors because of its solid cash position. In the first quarter of 2025, the company reported an operating cash flow of $5.2 billion, and its free cash flow came in at $1.3 billion. During the quarter, it returned $6.9 billion to shareholders, including $3 billion in dividends.

Chevron Corp. is on the cusp of reaching a production plateau in the largest US oil field, allowing it to reap billions of dollars of additional cash flow in the next few years.

Thai oil and gas giant PTT Exploration and Production (PTTEP) has acquired full ownership of Block A-18 in the Malaysia–Thailand Joint Development Area (MTJDA) in a $450 million transaction with Chevron units.

Chevron Corporation (NYSE:CVX) manufactures and sells a range of high-quality refined products, including gasoline, diesel, marine and aviation fuels, premium base oil, finished lubricants, and fuel