Economy

Exxon Mobil to cut nearly 400 jobs in Texas, filing says

Published

DENVER (Reuters) -Exxon Mobil will cut nearly 400 jobs in Texas following its purchase of shale producer Pioneer Natural Resources (NYSE:PXD), according to a regulatory filing.

The company will cut 376 jobs in Irving, Texas, and 18 workers in Midland, according to the filing with the Texas Workforce Commission.

About 1,900 Pioneer employees were offered jobs as part of the merger, and a majority of those accepted their offers, the filing said.

“Our employment strategy has not changed – the success of this merger depends heavily on the retention of Pioneer’s talented workforce,” the WARN letter said. Under U.S. labor law, employers must in some cases provide advance notice of layoffs.

Exxon will release 110 employees by the end of 2024 and another 178 throughout 2025. The remainder of the cuts – about 100 employees – will take place in 2026.

A spokesperson for Exxon Mobil (NYSE:XOM) did not immediately respond to a request for comment.

This post appeared first on investing.com

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