10/5, 4:55 PM (Source: TeleTrader)
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Exxon Mobil to cut 1,600 jobs due to COVID-19

American multinational oil and gas corporation Exxon Mobil announced on Monday it will have to cut the number of its European employees by approximately 1,600 until the end of the next year.

The company noted that the number of fired people will depend on its business results. Previous results were heavily impacted by the coronavirus pandemic.

Exxon Mobil said earlier that its revenue in the second fiscal quarter of 2020 tumbled 53% on an annual basis to $32.61 billion. Total costs fell 47% year-over-year to $34.25 billion.

Breaking the News / TF