Exxon to cut U.S. workforce by up to 10% annually – Bloomberg News


FILE PHOTO: A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes/File Photo/File Photo

June 21, 2021

(Reuters) – Top U.S. oil producer Exxon Mobil Corp is preparing to cut its U.S. office workforce by between 5% and 10% every year for the next three to five years, Bloomberg News reported on Monday citing people familiar with the matter.

The job cuts will target the lowest-rated employees relative to peers as part of a performance assessment program and will therefore not be classified as layoffs, the report https://www.bloomberg.com/news/articles/2021-06-21/exxon-prepares-to-cull-u-s-white-collar-ranks-by-as-much-as-10 said.

(Reporting by Shariq Khan in Bengaluru)

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