Exxon Mobil has reported 59 layoffs to the Texas Workforce Commission as part of a workforce restructuring following its $60 billion acquisition of Pioneer Natural Resources. The notice, filed this month, details job cuts across various locations, including 18 employees from Midland in the Permian Basin and two from Concho Valley in West Texas.
The layoffs come as Exxon integrates Pioneer’s substantial assets into its operations. The merger brought together Pioneer’s extensive portfolio of over 850,000 net acres in the Midland Basin with Exxon’s existing holdings of 570,000 net acres in both the Delaware and Midland Basins. This consolidation aims to streamline operations and enhance efficiency within the combined entity.
In its statement, Exxon emphasized that affected employees have been offered transition roles within the company or have opted not to join Exxon. The company is working to manage the impact of these changes and ensure a smooth transition for its workforce.
The acquisition of Pioneer Natural Resources is a strategic move by Exxon to expand its footprint in key oil-producing regions, particularly the Permian Basin, which is known for its significant energy reserves. The merger is expected to strengthen Exxon’s position in the market and drive future growth.
Despite the job cuts, Exxon remains focused on integrating Pioneer’s assets and optimizing its operations to achieve long-term success. The company continues to support affected employees during this transition period and is committed to maintaining operational excellence as it adapts to the new structure.
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