Exxon to cut 14,000 jobs, many at corporate headquarters
The oil major lost nearly $1.7bn in the first six months of 2020 and is expected to post another quarterly loss on Friday
29 October 2020 - 19:55
Houston — ExxonMobil said on Thursday it could cut the number of global employees by 15% and would lay off about 1,900 employees in the US as the Covid-19 pandemic batters energy demand and prices.
Exxon was once the largest US publicly traded company, but has been slashing costs due to a collapse in oil demand and ill-timed bets on new oilfields and expansions. It has promised to shed more than $10bn in 2020 in project spending and cut operating expenses 15%...
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