ConocoPhillips has wiped its hands of Marathon Oil’s former City Centre headquarters in Houston, months after the two carried out a $22.5 billion merger.
The Houston Chronicle’s Fuel Fix reported the 15-story tower was nearly empty after the merger resulted in the layoff of hundreds of workers.
The layoffs were not unexpected since Marathon had revealed it would let go more than 500 workers within a year after after the merger. ConocoPhillips also admitted months ago there would be more job cuts.
As Fuel Fix noted, ConocoPhillips was also the latest major oil and gas firm to eliminate office space in the wake of its large merger. Occidental Petroleum did the same in 2019 after its meerger with Anadarko.