Exxon Mobil Layoffs Following Pioneer Acquisition

By Sabrina Valle

HOUSTON (Reuters) – Exxon Mobil issued a layoff notice to 59 employees as part of its workforce reshuffle following its $60 billion acquisition of Pioneer Natural Resources (NYSE:PXD), according to a filing with the Texas Workforce Commission.

Exxon (NYSE:XOM) said more than 1,500 Pioneer employees were offered jobs as part of the merger. Pioneer had roughly 2,200 employees.

The layoff notifications include 39 workers from Las Colinas, an area in the Dallas suburb of Irving, Texas, home to Pioneer Natural Resources’ former headquarters, according to the filing. Exxon did not specify how many of the 59 people would be laid off and how many would take new jobs at the company.

Employees who received the warnings have either been offered transition roles or declined offers to join Exxon, the company said in a statement.

The job cut notifications filed this month also include 18 workers from Midland, within the Permian Basin, and two from the Concho Valley, both located in West Texas, as per the filing.

The merger combined Pioneer’s more than 850,000 net acres in the Midland Basin with Exxon’s 570,000 net acres in the Delaware and Midland Basins.