Exxon Mobil Corp. announced plans to cut nearly 400 jobs in Texas following its $63 billion acquisition of Pioneer Natural Resources Co. The reductions will affect approximately 397 former Pioneer employees.
Most of the layoffs will occur at offices in Irving, a suburb of Dallas, and Midland, a city in West Texas. These reductions are scheduled to take place gradually in seven phases between November 2024 and May 2026.
The company stated that over 1,900 Pioneer employees were offered positions at Exxon as part of the merger, with a significant majority accepting. These job cuts are part of the anticipated structural cost savings from the integration, which CEO Darren Woods expects to be significantly higher than initially projected.
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