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XOM Exxon Mobil Corp

116.13
-0.04 (-0.03%)
Last Updated: 14:48:27
Delayed by 15 minutes
Share Name Share Symbol Market Type
Exxon Mobil Corp NYSE:XOM NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  -0.04 -0.03% 116.13 116.15 115.41 115.57 1,091,172 14:48:27

Exxon to Cut Up to 1,600 Jobs in Europe

05/10/2020 5:00pm

Dow Jones News


Exxon Mobil (NYSE:XOM)
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By Colin Kellaher

 

Exxon Mobil Corp. on Monday said it will cut up to 1,600 jobs across its European operations by the end of next year as part of the energy giant's worldwide review of its operations.

The Irving, Texas, company said it plans to reduce staffing levels across a number of its European affiliates, noting that country-specific impacts will depend on its local business footprint and market conditions.

Exxon in July reported a second consecutive quarterly loss amid lower oil and gas prices and reduced demand sparked by the coronavirus pandemic.

Exxon said Europe remains an important market, but that the company needs to take significant actions to improve cost competitiveness and ensure it manages through unprecedented market conditions.

Last month, Exxon launched a voluntary workforce-reduction program in Australia. The company currently has roughly 75,000 employees around the world, according to FactSet.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

October 05, 2020 11:45 ET (15:45 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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