November 29, 2020

Kup

News Updates Everyday

ExxonMobil cuts 14,000 jobs worldwide, second layoff …

ExxonMobil cuts 14,000 jobs worldwide, second layoff ...

The American energy company ExxonMobil will reduce its global workforce by 15 percent over the next two years. This means that a total of around 14,000 jobs will be cut. At least 1,900 of them will be lost in the US, the oil company said on Thursday. Earlier this month, Exxon announced a wave of layoffs in Europe with 1,600 jobs at risk.

In the US, jobs are lost mainly in the administrative offices in Houston, Texas. According to the company, the downsizing is the result of continuous restructuring and changes in the work process that have been carried out over the past few years. The impact of the corona crisis on demand for Exxon products has increased the urgency of these changes. Exxon hopes the downsizing will “improve efficiency and reduce costs.”

Like its colleagues, ExxonMobil is grappling with the consequences of the low oil price. This forces society to intervene. In addition, the use of fossil fuels is increasingly criticized. In Europe in particular, the demand for sustainable alternatives is getting louder. In early October, the company announced it would cut up to 1,600 jobs in Europe, and layoffs were also announced in Australia.

At the end of 2019, ExxonMobil had 74,900 employees worldwide.