ExxonMobil has announced plans to lay off nearly 400 employees from Pioneer Natural Resources Co., after purchasing the Irving, TX-based operator for $63B.

ExxonMobil plans to cut 400 jobs post-acquisition of Pioneer Natural Resources, with layoffs continuing until May 2026.

The Spring, Texas-based multinational oil and gas corporation will lay off 367 workers in Las Colinas, and 18 in Midland, according to Texas Workforce Commission filings.

ExxonMobil will lay off nearly 400 employees from Pioneer Natural Resources following its $63 billion acquisition.

Exxon will reduce the headcount at Pioneer Natural Resources by some 397 over the next two years, reducing the number of employees by 20%. The move follows Exxon’s megadeal for the acquisition of Pioneer, which had a final price tag of around $62 billion.

Spring-based Exxon Mobil Corp. (NYSE: XOM) is laying off 397 Texas employees as a result of its $59.5 billion acquisition of Pioneer Natural Resources, the company said in a Worker Adjustment and Retraining Notification Act letter sent to the Texas Workforce Commission.

According to the company, the impacted workers were offered "transition roles." Layoffs will begin on Dec. 31, 2024, and extent through 2026.