Las Colinas-based Pioneer Natural Resources announced the layoffs of 230 employees on Tuesday, including 160 at the company’s headquarters, and 70 field employees located in the company’s Permian Basin operations. The layoffs represent the first such move in the company’s recent history, though they come just a few months after 300 employees accepted what were considered to be “generous” buyout offers.
Per a statement released to the Dallas Morning News, Pioneer said the layoffs and buyouts are part of an effort to reduce overall staff by 25%, as the company works on reducing its overhead by $100 million. In a 2018 regulatory filing, the company stated that it had 3,177 total employees, so it appears that another 200-300 job reductions are in the offing.
The staff reductions have followed the company’s April deal to sell its remaining Eagle Ford shale operations, the last assets it owned outside of the Permian Basin.