Company cuts 100 jobs in Trinidad, cites low energy prices
Pioneer Natural Resources says it’s closing its Denver office and scaling back its workforce in southern Colorado.
About half of the company’s 200 employees in Trinidad will be let go. Pioneer says the laid off workers will receive severance packages and access to outplacement services.
About one-third of the 70 employees affected by the shuttering of the company’s Denver office will be offered relocation opportunities to Dallas.
Pioneer says the Colorado cuts were necessary because of weak natural gas prices and the collapse of crude oil and natural gas liquids prices.
“Decisions to right-size our workforce are never easy, as we know they impact good people and the communities in which they live,” said Tim Dove, President and Chief Operating Officer. “These employees have worked hard for Pioneer, and we place a great deal of value on their efforts. These decisions are an unfortunate reality of the price environment that we face today.”
