As a CVX Retiree, I can say this ... this was inevitable. CVX needs to grow, but not through drill bit. This is a good play but not sure if best time to pull the chord... time will tell.
As for working at CVX, expect significant layoffs. CVX is going through significant upheaval this year: layoffs that ar projected to be 15 to 20%, across the board; culture change called “Functional Transformation”, code word by Management Consultants BCG as, new name same idea give me money; Uncertainty by the ranks how all this plays out.
Layoffs are expected to be complete by end October, but with this acquisition, I expect that to be pushed back to mid 2021.
CVX has few projects in the works because Gorgon, Wheatstone, EGTL and TCO has s—ed the money out due to poor management and leadership, resulting in cost overruns (significant) and significant schedule busts.
If you arr a FE then dont expect anything. If you are a geologists or geophysicists, start looking. If you are in ops then you maybe ok. If you are a woman you got a job for life (hint: part of the Functional Transformation).
Current package is 3 weeks every year, one month severance notice and if lucky management asks you to stay a few more months.
CVX is a good company to work for and retire, but dont expect much recognition ... they have the “poppy syndrome”.