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After Marathon Oil's $22.5 billion merger with ConocoPhillips, more than 500 employees are expected to be laid off at the company's Houston office. The company made this announcement in a letter to the Texas Workforce Commission sent this week.
It is currently unknown which employees will be cut. The layoffs are expected to occur within a year of the merger being finalized, which is anticipated to happen during the fourth quarter of this year.
In a letter to the state, Senior VP of Human Resources Jill Ramshaw said, "While these employees will be notified of specific employment end dates within a month of close, many will be retained for transition roles. Transition role scope and duration are currently being finalized, and more than 50% of these transition roles are expected to extend beyond six months."
