Sep. 30 at 12:43 PM
Exxon Mobil plans to cut roughly 2,000 jobs worldwide, representing 3%–4% of its global workforce, as part of an ongoing corporate restructuring to better align its decades-old office network with current operations. A company spokesperson noted the changes aim to improve collaboration and efficiency across teams. The layoffs are part of a broader internal reorganization designed to reduce costs and streamline operations.
The timing coincides with lower crude prices, as OPEC+ has flooded the market with excess supply in an effort to regain market share. Other oil majors are taking similar cost-cutting measures: TotalEnergies aims to save
$7.5 billion by 2030, Imperial Oil (mostly owned by Exxon) plans to cut 20% of its workforce by 2027, and Chevron reduced 15%–20% of its staff earlier this year.
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