Exxon Says Considering Worldwide Job Cuts, Confirming Recent Reports

9/2/20

By Carl Surran, SA

Exxon Mobil (NYSE:XOM) is weighing possible worldwide job cuts, a spokesperson tells Reuters, after announcing a voluntary layoff program in Australia.

"We have evaluations underway on a country-by-country basis to assess possible additional efficiencies to right-size our business and make it stronger for the future," the company says, marking a shift after saying in July that it had no plans for layoffs.

Exxon does not say what percentage of its workforce it could cut, but in Australia it will consider all employees who expressed an interest in voluntary redundancy.

Business Insider reported yesterday that Exxon is evaluating cost-cutting measures including job cuts across its oil exploration and production business, citing an internal memo.

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