XTO Energy Closes Headquarters; Relocates Hundreds to Houston
XTO Energy, Inc., a subsidiary of ExxonMobil Corp., is closing its corporate headquarters in Fort Worth, Texas, which will affect a total of 1,200 employees, according to a letter sent to the Texas Workforce Commission (TWC).
The U.S. oil and natural gas producer plans to relocate its business activities to other company locations, primarily Houston, beginning June 1 and ending June 30, the letter states.
Of the 1,200 affected employees, 950 are management, professional or technical (MPT) positions and 250 are non-MPT positions.
“Satisfactorily-performing” MPT employees who relocate will be provided relocation benefits.
Seventy-five percent of the non-MPT employees have been reassigned to local positions with the company or will self-relocate to Houston, according to an XTO Energy emailed statement to Rigzone.
“Approximately 65 employees have either not been offered positions in Fort Worth or have chosen not to self-relocate to Houston and will be separated from the company effective June 30, 2018,” the email states.
Those 65 employees will receive a severance allowance.
“We recognize this decision impacts people’s lives, and it was only made with careful consideration to those people and our business,” XTO Energy said.
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Senior Editor | Rigzone