Between May 2024 and mid-2025, three of Houston's largest oil companies each closed a large acquisition. ExxonMobil, based in Spring, bought Pioneer Natural Resources. ConocoPhillips, headquartered in the Energy Corridor, bought Marathon Oil. Chevron, which moved its headquarters to downtown Houston from California, bought Hess.
The cuts followed. Chevron said in February 2025 that it would reduce its global workforce by 15% to 20% by the end of 2026. ConocoPhillips said in September 2025 it would cut up to 25% of its workforce. ExxonMobil announced about 2,000 job cuts worldwide the same month. These are company-wide figures, not Houston counts, but all three are headquartered in the Houston area.
For employers outside the majors, that means a rare supply of experienced reservoir, drilling, facilities and subsurface people, many with integration and cost-cutting experience. It also means candidates are cautious: many want a contract-to-hire trial or a clear view of a company's backlog before they move. Plant turnarounds and site-access rules are covered on our Houston staffing page.