ExxonMobil Hints Of Global Job Cuts

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U.S oil giant, ExxonMobil, is set to cut jobs worldwide on a country-by-country basis, according to report filed by Reuters.

The report said ExxonMobil Australia is offering voluntary redundancies to all its employees in Melbourne, Gippsland, Sydney, Adelaide and Perth, following “an extensive review of the company’s current and future project work.

“This programme will ensure the company manages through these unprecedented market conditions,” ExxonMobil Australia said.

“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,” Casey Norton, Exxon’s spokesman said.

So far, Exxon has refrained from job cuts after oil prices collapsed and oil supermajors started losing money and cutting capital expenditures (capex).

However, others like BP, for example, have already announced massive job cuts.

BP is cutting 10,000 jobs, or around 15 percent of its workforce, as it looks to cut costs amid the oil price crash resulting from the coronavirus pandemic, Chief Executive, Bernard Looney said in June.

Source:www.energynewsafrica.com

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