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Exxon Mobil to cut 2,000 jobs globally amid restructuring
- Bloomberg and Reuters reported Tuesday that Exxon Mobil will lay off 2,000 workers globally as part of a long-term restructuring plan, adding to energy sector job cuts this year.
- Driven by a multi-year efficiency drive, Exxon aims to increase cost savings after a 2019 internal restructuring, CEO Darren Woods said.
- Company filings and memos show the cuts equal about 3% to 4% of Exxon's global workforce as it consolidates smaller offices into regional hubs focused on Guyana oil, Gulf Coast LNG and global trading.
- The cuts add to U.S. production job losses, with Exxon shares down 2.5% and U.S. oil and gas production jobs falling 4,700 this year amid regional declines.
- Several rival energy majors have also disclosed cuts in recent months as benchmark Brent crude futures fall about 10.5% year-to-date, while Calgary-based Imperial Oil, nearly 70% owned by Exxon, plans 20% workforce cuts Monday.
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Austin (USA), Sep 30 (EFE).- The U.S. oil company Exxon Mobil will fire about 2,000 workers worldwide as part of a “restructuring” plan, according to Bloomberg. The announcement comes in the middle of a recent wave of layoffs within the U.S. energy sector and less than a month after ConocoPhillips, another major in this industry, advanced his plans to fire up to a quarter of his workforce. Specifically, Exxon’s “restructuring” will mean the firi…
Exxon Mobil to cut 2,000 jobs globally amid restructuring
Exxon Mobil will lay off 2,000 workers globally as part of a long-term restructuring plan, the top U.S. energy major told Reuters in an emailed statement, affecting about 3% to 4% of the company's global workforce.
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Coverage Details
Total News Sources20
Leaning Left2Leaning Right3Center5Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 20%
C 50%
R 30%
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