Exxon Mobil (XOM.US) plans to lay off nearly 400 employees from its Vanguard Resources

Market IntelThursday, Nov 14, 2024 12:50 am ET

1min read

PBFS -- XOM +0.51%

Exxon Mobil Corp. said it plans to cut 397 jobs, following its $63 billion acquisition of Pioneer Natural Resources Co. earlier this year, according to a notice filed Wednesday with the Texas Workforce Commission. The cuts will take place in seven phases through May 2026, and will affect nearly 20% of Pioneer's workforce before the merger, and will be concentrated in the Dallas suburb of Irving and Midland, Texas, offices, the company said.

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