Exxon is closing two office towers in the greater Houston area
The reason is a reduction in the workforce
Exxon Mobil Corp (NYSE: XOM) plans to close two office towers in the greater Houston area to consolidate the workforce on the main campus and reduce costs after employees leave, the company said on Friday.
Exxon announced last year it would reduce its global workforce by 14,000 after the company posted an annual loss of $ 22.4 billion in the past.
The remaining employees in the two office buildings known as Hughes Landing in The Woodlands, TX will be relocated to the company's main campus in the Houston area, said Exxon spokesman Casey Norton. Bloomberg reported this news first.
The closure of the two offices means the company could get more than $ 1 million in tax breaks with the Woodlands community, which required a minimum number of employees.
"As soon as the tax discussions are resolved, we look forward to welcoming these employees back to our larger premises on the Houston campus," Exxon said in a press release.
The company has implemented performance appraisal programs that have resulted in layoffs and voluntary departures. These positions could be filled and are not intended to further reduce the workforce, Norton said.