Exxon may cut 1,600 jobs across Europe

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ExxonMobil, a U.S. oil giant said on Monday it plans to reduce its European workforce by up to 1,600 across the company’s affiliates by the end of 2021 as part of its global review. Exxon said country-specific cuts will depend on the oil major’s local business footprint and market conditions, following the COVID-19 pandemic hammer on demand for its products and as crude prices sank. Various other oil majors are axing jobs, lowering production costs and spending as well as curbing dividends in order to save funds amid a dismal outlook over energy prices which are expected to remain lackluster for years. Last month, Exxon announced voluntary layoffs in Australia and said that job cuts will continue globally into 2021.
For More Enquiry: 08052442020

ExxonMobil, a U.S. oil giant said on Monday it plans to reduce its European workforce by up to 1,600 across the company’s affiliates by the end of 2021 as part of its global review.

Exxon said country-specific cuts will depend on the oil major’s local business footprint and market conditions, following the COVID-19 pandemic hammer on demand for its products and as crude prices sank.

Various other oil majors are axing jobs, lowering production costs and spending as well as curbing dividends in order to save funds amid a dismal outlook over energy prices which are expected to remain lackluster for years.

Last month, Exxon announced voluntary layoffs in Australia and said that job cuts will continue globally into 2021.

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For More Enquiry: 08052442020

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