Parsley Energy Inc. will lay off most of its Austin, Texas workforce as part of its sale to Pioneer Natural Resources Co., according to a notice to the Texas Workforce Commission posted on Dec. 11.

Pioneer Natural Resources is buying Parsley Energy in a deal valued around $4.5 billion that is part of a wave of consolidation among U.S. shale producers slammed by pandemic-driven collapse in oil demand.

The Parsley layoffs include 234 workers, though some of those employees will be offered jobs with Pioneer in Las Colinas, Texas or Midland, Texas, a letter to the state agency said. The layoff data is expected to be Feb. 8.