ExxonMobil, after its significant acquisition of Pioneer Natural Resources, has announced layoffs impacting 397 employees. This move marks a further contraction in the North Texas oil and gas sector, even after ExxonMobil extended job offers to a substantial portion of Pioneer’s workforce following the completion of the $59.5 billion merger in May.
The job cuts follow ExxonMobil’s acquisition of Irving-based Pioneer Natural Resources, a deal finalized in May for $59.5 billion. While ExxonMobil, headquartered in Spring, Texas, offered positions to over 1,900 Pioneer employees, a portion of the workforce is now facing separation. According to ExxonMobil spokeswoman Michelle Gray, the layoffs are a result of employees either accepting transition roles or declining offers to join ExxonMobil. These separations are being managed under the Pioneer Severance Plan. Gray emphasized that the company’s strategy heavily relies on retaining Pioneer’s talent, highlighting that the majority of Pioneer’s workforce received job offers.
ExxonMobil had previously made cuts in July, reducing 39 positions at the Las Colinas offices, according to the Texas Workforce Commission. The latest reductions will primarily affect Pioneer’s Las Colinas office in Irving. However, some positions in Big Lake and Midland will also be impacted.
The separations are scheduled to begin on December 31st of this year and will continue until May 3, 2026, with the final group of 32 employees departing. ExxonMobil has not yet clarified the future of Pioneer’s Las Colinas office or whether affected employees will be required to relocate to the Houston area.
The acquisition of Pioneer Natural Resources positions ExxonMobil as the dominant entity in the Permian Basin of Texas and New Mexico. This merger boosts ExxonMobil’s daily production to approximately 4.5 million barrels of oil equivalent per day, solidifying its status as a leading oil and gas conglomerate.
A notable aspect of the merger included a settlement with the SEC, which led to former Pioneer CEO Scott Sheffield being barred from ExxonMobil’s board. This action by the Federal Trade Commission stemmed from accusations that Sheffield attempted to influence oil pricing with OPEC and other entities. Sheffield has refuted these accusations, asserting that the FTC’s implications of anti-competitive behavior are unfounded and could negatively impact business leaders’ ability to advocate for their industries.
In related business news, further job reductions are occurring in North Texas. Defense contractor L3Harris is set to lay off nearly 200 employees in Rockwall due to the conclusion of its JAVA MAN aerial intelligence program. Additionally, Starbucks is also streamlining operations, resulting in 1,100 corporate job cuts. Despite these layoffs, the Dallas-Fort Worth area job market remains robust, with local job creation still outpacing national figures, even amidst a slowing economy.
These workforce adjustments at Pioneer Natural Resources and other companies reflect ongoing shifts within both the energy sector and the broader economic landscape of North Texas. While some sectors face contractions and consolidations, the overall job market in the Dallas-Fort Worth area continues to demonstrate resilience.
