ExxonMobil (XOM) is considering leasing or selling nearly half of the office space at its Houston campus, which will become the company’s global headquarters next year, The Wall Street Journal reported Friday.
The U.S. oil giant typically uses less than 50% of the office space at the 385-acre site, which is large enough to accommodate over 10,000 workers. The campus has never reached capacity since Exxon opened it in 2014.
The company has hired a broker to gauge outside interest in the unused office space, a memo obtained by the Journal said.
The company’s global workforce has decreased by more than 10,000 people since the early days of the pandemic 2020, according to regulatory filings. The company said in 2020 it would eliminate 15% of its total workforce, including about 1,900 U.S. jobs, primarily in the Houston area.
ExxonMobil said it hopes more employees will work at its Houston facility, according to a memo obtained by the Wall Street Journal. The move comes amid an increasing corporate shift to bring workers back into the office.
Shares of ExxonMobil late Friday afternoon were at $112.20, up $1.10, or 0.99%.