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Tuesday, March 2, 2021

ExxonMobil announces 1900 job cuts in United States

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US oil major ExxonMobil said on Thursday as part of an extensive global review announced earlier this year, it plans to reduce staffing levels in the United States, primarily at its management offices in Houston, Texas. The company said it anticipates approximately 1,900 employees will be affected through voluntary and involuntary programs.

“The workforce reductions are the result of ongoing reorganizations and work-process changes that have been made over the past several years to improve efficiency and reduce costs,” ExxonMobil said. “These actions will improve the company’s long-term cost competitiveness and ensure the company manages through the current unprecedented market conditions.”

ExxonMobil said the impact of COVID-19 on the demand for its products has increased the urgency of the ongoing efficiency work.

“The company recognizes these decisions will impact employees and their families and has put these programs in place only after comprehensive evaluation and thoughtful deliberation,” ExxonMobil said. “Employees who are separated through involuntary programs will be provided with support, including severance and outplacement services.”

ExxonMobil is operator at the prolific 6.6 million acres Stabroek block in Guyana where it has made 18 discoveries since 2015 amounting to approximately 9 billion barrels of oil equivalent resources. Oil production at the Stabroek block began last December.

The company has said despite the global downturn which has been adversely affecting the oil and gas industry, it remains fully committed to its exploration and production operations and long-term plans in Guyana.

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