US EditionExxon Mobil to cut 2,000 jobs globally amid restructuring
Exxon Mobil is cutting about 3% to 4% of its global workforce to streamline operations after its $60 billion Pioneer acquisition, amid weaker crude prices and industry consolidation.
- On Tuesday, U.S. energy major Exxon Mobil will lay off 2,000 workers globally as part of a long-term restructuring plan, adding to wider job cuts in the energy sector this year.
- After years of internal reorganisation, Exxon has cut $13.5 billion in annual expenses since Darren Woods, Chief Executive, launched the 2019 internal restructuring.
- 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, Gulf Coast, and global trading.
- The cuts add to U.S. production job losses, with Exxon shares closing down 2.5% and U.S. oil and gas production jobs falling by 4,700 this year.
- Several rival energy majors have also disclosed cuts in recent months, with Chevron, ConocoPhillips and BP announcing significant layoffs, while Calgary-based Imperial Oil, nearly 70% owned by Exxon, plans to cut 20% of its workforce.
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The announcement takes place at a time when there is a wave of unemployment in the US energy sector and at least one month after the ConcoPhillips announced plans to allow up to a quarter of the workers.
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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