ExxonMobil to Cut 2,000 Jobs in Global Restructuring
ExxonMobil has announced significant job cuts, with 2,000 workers set to lose their jobs as part of a long-term restructuring plan. This move comes amidst a decline in U.S. oil and gas production jobs, with 4,700 positions lost in the first half of this year.
The layoffs at ExxonMobil represent around three to four per cent of its global workforce. This decision follows a similar announcement by Imperial Oil, a majority-owned subsidiary, which plans to cut its workforce by 20 per cent. Meanwhile, ConocoPhillips is considering reducing its staff by 20 to 25 per cent.
ExxonMobil aims to improve efficiency by consolidating its workforce into fewer locations. The company plans to build a new office at its Antwerp refinery in Europe and close some smaller offices across the EU. This restructuring will affect employees in the United States, Canada, and the United Kingdom, with about 1,200 positions set to be cut in Norway and EU countries by the end of 2027.
ExxonMobil's CEO, Darren Woods, has previously criticized an EU corporate sustainability law that could impose fines for environmental issues within supply chains. The company, along with Chevron, which plans to lay off up to 20 per cent of its global workforce, is adjusting its operations in response to changing market conditions and regulatory pressures.
