This latest decision is part of an ongoing integration efforts after 7-Eleven’s $21 billion acquisition of Speedway in 2021. The deal included nearly 4,000 Speedway stores across 36 states.
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“We are just over a year into our integration process following the $21 billion Speedway acquisition and have made significant progress. As with any integration, our approach includes assessing our combined organization structure,” 7-Eleven said in a statement.
“The review was slowed by Covid-19 but is now complete, and we are finalizing the go-forward organization structure. As a result, we made the difficult decision to reduce our current workforce in our Irving, Teas and Enon, Ohio support centers and field support operations by approximately 880 associates. These decisions have not been made lightly, and we are working to support impacted employees, including providing career transition services,” the statement added.
It is unclear when those reductions in workforce occurred and if the 880 number includes previous reductions due to the acquisition.
Late last year, layoffs had been reported at the Speedway headquarters in Enon. An exact number had not been confirmed, but representatives of 7-Eleven said that less than 35 people had been laid off at the time, and it was part of the integration process.
As of last summer, 7-Eleven, as a subsidiary of the Tokyo-based Seven & i Holdings Co., Ltd., owned, operated, and franchised approximately 9,000 convenience stores in the United States, making it the largest U.S. convenience store chain.
Last June, it was reported that 7-Eleven Inc., and Marathon Petroleum Corp., had agreed to divest from locations in almost 300 markets. That decision followed competition concerns that were raised over the acquisition and a proposed consent order from the FTC.
The Dayton and Springfield markets were not listed by the FTC as areas in which the divestment would occur. The agreement calls for both companies to divest hundreds of stores that sell gasoline and diesel fuel in 293 local markets across 20 states.
Under the terms laid out in the proposed consent order by the FTC, 7-Eleven and Marathon are required to divest 124 retail fuel outlets to Anabi Oil, comprising 123 Speedway outlets and one 7-Eleven outlet.
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