10/29/2020, 4:45 PM (Source: TeleTrader)
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ExxonMobil to cut around 1,900 jobs in US

The Exxon Mobil Corporation revealed on Thursday that it intends to cut around 1,900 jobs in the United States "as part of an extensive global review." The company stated that the ongoing reorganizations are being made in order to improve efficiency and reduce costs, and that the new measures will primarily impact its management offices in Houston, Texas.

"These actions will improve the company’s long-term cost competitiveness and ensure the company manages through the current unprecedented market conditions. The impact of COVID-19 on the demand for ExxonMobil’s products has increased the urgency of the ongoing efficiency work," the oil giant said in a statement.

Breaking the News / DJ