Exxon to cut 14,000 global jobs as pandemic hurts demand

Exxon Mobil Corp said on Thursday it could cut the number of global employees by 15pc and would lay off about 1,900 employees in the United States as the Covid19 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 illtimed bets on new oilfields and expansions. It has promised to shed more than $10 billion this year in project spending and cut operating expenses 15pc. An estimated 14,000 employees globally, or 15pc, could lose jobs, including contractors, spokesman Casey Norton said. The cuts would include everything from layoffs to retirements or performancebased exits. Exxon had about 88,300 workers last year, including 13,300 contractors. “We are not targeting a headcount reduction percentage,” Norton said, adding that the “end result” of its countrybycountry reviews “may be close to 15pc of our global workforce.