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Daily News:Exxonmobil plans to cut its US workforce

Pub Date:Jun 30, 2020    |    Views:71    |    


Exxonmobil plans to cut its US workforce

 
China Petrochemical News Network June 28, 2020 - ExxonMobil corp is preparing to cut jobs in the United States in an effort to streamline its operations and improve efficiency, people familiar with the matter said.
 
Between 5 and 10 per cent of US workers undergoing performance reviews are likely to leave this year, according to people familiar with the matter. The layoffs are expected to be performance-based, not characterized as layoffs, and not all employees will be subject to the evaluations, which typically apply to white-collar workers in fields such as engineering, finance and project management.
 
Exxonmobil said in a statement that it did not have specific targets for job cuts, but that it had a rigorous talent management process and regularly evaluated employees' performance.
 
DarrenWoods, exxon's chief executive, said at its annual shareholder meeting last month that while no job cuts were planned, the company was reducing the number of contractors and trying to become leaner. A year ago, Exxon restructured its upstream operations to better integrate its operations with other business units and strengthen decision-making accountability.
 
The sharp drop in oil demand prompted Exxon earlier this year to cut some of its growth plans and cut global capital spending by a third, or $10bn. ChevronCorp. And BPPlc (BPPlc), while tens of thousands of jobs are estimated to have been lost in the U.S. shale sector.

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