Another round of layoffs at ExxonMobil

HOUSTON, Aug. 12 (Reuters) - Exxon Mobil Corp (XOM.N) has issued layoff notices to 59 employees in Texas as part of a workforce restructuring following its $60 billion acquisition of Pioneer Natural Resources Co.

The layoffs will take effect on Oct. 31 and include 39 workers from Las Colinas, a suburb of Dallas, and 20 from Irving, the company said in a filing with the Texas Workforce Commission. Exxon said it will provide severance benefits and job placement assistance to the affected employees.

The layoffs are part of a broader cost-cutting effort at ExxonMobil, which has been hit hard by the COVID-19 pandemic and the global economic downturn. The company has announced plans to cut 14,000 jobs, or about 15% of its workforce, by the end of 2023.

ExxonMobil's acquisition of Pioneer Natural Resources, which was completed in May, created one of the largest oil and gas companies in the world. The deal was seen as a way for ExxonMobil to expand its presence in the Permian Basin, the most prolific oil field in the United States.