Job cuts at Marathon Oil: Preparations for mega-merger with ConocoPhillips

The Texan energy sector is facing a significant change as Marathon Oil in Houston plans to cut 500 jobs. This move comes shortly before the impending takeover by ConocoPhillips, an energy giant that is putting a remarkable $17 billion on the table for this merger. According to a statement from the Texas Workforce Commission, Marathon had already made the necessary personnel adjustments prior to the official announcement of the merger. The date for the job cuts is set for May 28, a strategic decision shortly before the public statements about the merger. Both companies are headquartered in Houston, a city known for its strong foothold in the energy sector. This merger is of great significance and has the potential to significantly alter the landscape of the oil and gas industry.