Thread regarding Pioneer Natural Resources Co. layoffs

Merger Update 1-29

Estimated earliest closing is early May and latest end of July. Upon closing after an estimated 60-day period they will put you in three categories.

  1. Job Offer with total compensation, relocation if necessary, etc.
  2. Transition team with a future termination date (I want to say Parsley was for around 7 months).
  3. Termination at start of transition.

Expect to see more information coming out in Mid-February and your leadership should start introducing you to their counter parts from Exxon.

Lastly, and this can be good or bad new (I'm leaning more on bad news). That 90% retention rate turned out to be fake news as Exxon never agreed to those terms. (Pretty confident in the source that revealed that)

Anyone, please update if you have any other information or counter information. There's no reason we need to be entirely in the dark during the process.

Good luck everyone!

by PermianBreakingNews
| 2496 views | | 13 replies (last ) | Reply
Post ID: @OP+1qO2F9Vu
Comment! It's anonymous!

13 replies (most recent on top)

What 2 year plan? The offices will be maintained while vacant.

Section 8.12
(b) During the period beginning on Closing Date and ending on the two (2) year anniversary of the Closing Date, (A) the Surviving Corporation’s headquarters will be located at the Company’s existing headquarters in Irving,TX, and (B) the Surviving Corporation shall maintain an office in Midland, Texas that is comparable to the Company’s existing office in Midland, Texas.

by Anonymous
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Post ID: @2rts+1qO2F9Vu

Why would denburys offers take longer than ours? We’re a larger company

by Anonymous
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Post ID: @2vam+1qO2F9Vu

Offers within 60 days of close. All employee meeting end of month. Multiple informational sessions planned.

by Anonymous
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Post ID: @2kcm+1qO2F9Vu

The 2 year plan was wishful thinking and a reach on ss part as well. Exxon will move faster than that. Year at most. This came from a very reliable source as well

by Anonymous
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Post ID: @2nro+1qO2F9Vu

What would be the logic for a mini reorg right before the deal closes or gets held up?

by Anonymous
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Post ID: @2ppv+1qO2F9Vu

I feel like the guy who always mentions poke bowls on this site is a 40 year old guy who made a joke about them once and got a chuckle and now he won’t stop talking about them.

by Anonymous
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Post ID: @2rwd+1qO2F9Vu

Shout out to poke bowls, big ups Liquid Richard.

by Anonymous
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Post ID: @2ffk+1qO2F9Vu

Thank you our hero for keeping us informed. Can't wait for the day to come, when useless supervisors/managers/directors/VPs get the boot.

by Anonymous
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Post ID: @2tdb+1qO2F9Vu

This guy's response is legit. Unfortunately, not all groups are transparent with their employees. Especially the ones who brag about "culture" and "people" are the worst keeping everyone in the dark.

by Anonymous
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Post ID: @1bhs+1qO2F9Vu

Of course the 90% was BS. Kind of a moot point though as it seems like at least 90% want no part of Exxon.

by CaseyRyback
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Post ID: @1vga+1qO2F9Vu

“Mini” reorg planned for April.

by Anonymous
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Post ID: @1elw+1qO2F9Vu

Thanks for your input, zfc.

Feel free to add any additional information that has been shared publicly or is common sense.

by De-------t
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Post ID: @1drg+1qO2F9Vu

That's real insider info there. Stuff that has already been shared publicly and some that's just common sense. Thanks, Deep Throat.

by Anonymous
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Post ID: @zfc+1qO2F9Vu

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