Exxon Mobil Corporation (XOM.US) plans to lay off nearly 400 employees from its Pioneer company by 2026.

After acquiring Pioneer Natural Resources Company earlier this year for $63 billion, Exxon Mobil Corporation (XOM.US) plans to lay off 397 employees. Exxon Mobil Corporation announced in a notice to the Texas Workforce Commission on Wednesday that the layoffs will be carried out in seven phases until May 2026, affecting nearly 20% of the employees from before the Pioneer merger, with the layoffs primarily impacting employees at Pioneer's offices in Irving, Texas, and Midland. The acquisition of Pioneer Natural Resources Company has brought Exxon Mobil Corporation's oil and gas production to its highest level in over a decade, making it the largest producer in the largest shale basin in the United States. Exxon Mobil Corporation CEO Darren Woods stated in a call with analysts on November 1 that cost savings are expected to be "significantly higher" than initially anticipated. Exxon Mobil Corporation plans to announce its long-term plans for the Permian region and the integration of Pioneer in a report on December 11. In a statement, Exxon Mobil Corporation said, "The success of this merger largely depends on retaining the excellent employees of Pioneer." "As part of the merger, over 1,900 Pioneer employees were offered job opportunities, with the vast majority accepting their new positions."