Exxon Mobil is set to lay off approximately 400 workers in Texas as part of the ongoing integration process following its recent merger with Pioneer Natural Resources. According to a Worker Adjustment and Retraining Notification (WARN) notice filed by the Texas Workforce Commission, the layoffs will affect employees at five locations across the state, including Big Lake, Irving, and Midland.
The mass layoffs, which will occur over the next two years, are slated to begin on December 31 and continue through May 2026. The notice indicates that a significant portion of the layoffs will be concentrated at a facility in Irving, situated roughly 16 miles northwest of Dallas.
In response to the announcement, Exxon Mobil explained that the company has offered “transition roles” to impacted employees, though some workers have opted not to accept these positions. The company emphasized that its employment strategy remains unchanged and reiterated its commitment to retaining talent from Pioneer Natural Resources.
Read more: Appeals Court Sides with Exxon, Chevron in Price-Fixing Lawsuit
“The success of this merger depends heavily on the retention of Pioneer’s talented workforce, and more than 1,900 Pioneer employees were offered jobs as part of the merger,” Exxon Mobil said in a statement to USA Today.
The layoffs come after Exxon Mobil’s merger with Pioneer, which has reshaped the landscape of the oil and gas sector. Despite these job cuts, Exxon has made efforts to ensure the continuation of Pioneer’s workforce through new employment offers as part of the consolidation process.
The Texas Workforce Commission, which oversees workforce development services in the state, issued the WARN notice, a formal requirement whenever large-scale layoffs are planned, as per guidelines set by the U.S. Department of Labor.
Source: USA Today
Featured News
Google Urges FTC to Breakup of Microsoft’s Exclusive OpenAI Partnership: Report
Dec 10, 2024 by
CPI
Trump Announces Andrew Ferguson as FTC Chair Nominee Amid Antitrust Policy Uncertainty
Dec 10, 2024 by
CPI
Judge Halts Kroger-Albertsons Merger Over Antitrust Concerns
Dec 10, 2024 by
CPI
RealPage Clears DOJ Criminal Investigation, Faces Ongoing Civil Suits
Dec 10, 2024 by
CPI
Nvidia Responds to China’s Antitrust Probe, Vows Full Cooperation
Dec 10, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Moats & Entrenchment
Nov 29, 2024 by
CPI
Assessing the Potential for Antitrust Moats and Trenches in the Generative AI Industry
Nov 29, 2024 by
Allison Holt, Sushrut Jain & Ashley Zhou
How SEP Hold-up Can Lead to Entrenchment
Nov 29, 2024 by
Jay Jurata, Elena Kamenir & Christie Boyden
The Role of Moats in Unlocking Economic Growth
Nov 29, 2024 by
CPI
Overcoming Moats and Entrenchment: Disruptive Innovation in Generative AI May Be More Successful than Regulation
Nov 29, 2024 by
Simon Chisholm & Charlie Whitehead