Exxon Mobil Announces Layoffs Following $60 Billion Acquisition

Exxon Mobil has issued layoff notices to 59 employees as part of its workforce restructuring following the $60 billion acquisition of Pioneer Natural Resources. The company filed these notices with the Texas Workforce Commission.

Impact of the Merger on Employment:

As part of the merger, Exxon offered jobs to over 1,500 Pioneer employees, with Pioneer originally employing approximately 2,200 people.

The layoff notifications include 39 employees from Las Colinas, a Dallas suburb of Irving, Texas, Pioneer’s former headquarters. Additionally, 18 workers from Midland in the Permian Basin and two from the Concho Valley in West Texas are affected.

Transition and Job Offer Status:

Exxon stated that the employees receiving layoff notices have either been offered transition roles or declined offers to continue with the company. The precise number of layoffs versus new positions taken has not been disclosed.

The merger has combined Pioneer’s 850,000 net acres in the Midland Basin with Exxon’s 570,000 net acres in the Delaware and Midland Basins, expanding Exxon’s footprint in key oil-producing regions.