"Following the Anadarko acquisition, Occidental’s integration team identified the jobs we need to successfully and safely operate our business and achieve our synergy goals," Occidental spokeswoman Melissa Schoeb said. "While voluntary programs to reduce the workforce were successful and contributed significantly to our synergy goals, we determined additional nonvoluntary staff reductions were necessary. We recognize this will have an impact on our employees and will do what we can to provide assistance through the process."
Occidental sold the two iconic Anadarko towers in The Woodlands to Howard Hughes Corp. in a deal announced Dec. 30, agreeing to occupy the larger of the two towers for 13 years as well as continuing to occupy the warehouse that was part of the deal.
According to the Dec. 30 release, Occidental will continue to occupy the towers and will lease back 100% of the larger, 808,000-square-foot tower at 1201 Lake Robbins Drive as well as 100% of the warehouse for 13 years.
Occidental President and CEO Vicki Hollub said in a statement she believes it is important for the company to maintain a presence in The Woodlands.
“The sale of office complexes in the Houston Energy Corridor and The Woodlands is part of our plan to divest non-core assets and continue to improve the strength of our balance sheet,” Hollub said. “It was important to us, and many of our employees, to maintain a presence in The Woodlands, and we are pleased to have signed a 13-year lease to remain in the community.”