exxon mobil layoffs 2020
Saudi, Russia want oil supply cuts till 2021, but it’s bitter pill for Nigeria, NNPC reports explosion in OML 40 facility managed by Its partners, EITI lauds NNPC on publication of 2019 audited account, Drastic cost-cutting strategy drives Total Nigeria PAT by 344%. Clearly Coronavirus made this plan impossible. As the Coronavirus (COVID-19) pandemic hits global crude oil demand, a fresh indication has emerged that, no fewer than 14, 000 staff of ExxonMobil will lose their jobs. Prior to the pandemic, Chief Executive Darren Woods pursued an ambitious spending plan to boost oil output in the belief a growing global middle class would demand more of its products. Do NOT follow this link or you will be banned from the site. According to ExxonMobil spokesman, Casey Norton, the total reduction means the company will reduce its workforce by about 14,000 people, split between employees and contractors from year-end 2019 levels. Now a Hurricane, Tropical Storm Laura Threatens Louisiana, Texas Energy Operations, BP Sells Petrochemicals Business for $5 Billion, ExxonMobil to Cut 1,900 US Jobs as COVID-19 Hits Oil Prices, Boeing Announces Further Job Cuts After a Fourth Quarter of Losses, It’s Not Far-Fetched: Redesigning Production for Remote Work, Pandemic Leads Women to Consider Career Change; 2 in 5 Looking at STEM, Create economic empowerment by building Black wealth and income, Drive social justice reform in healthcare, housing, workforce development and civil rights, including voting rights and education. “As you all know, we work hard to avoid layoffs,” Woods told shareholders on May 27. There will be layoffs previously announced in Europe and Australia and reductions in the number of contractors, some of which have already taken place. © 2020 - Businessday NG. He didn’t disclose how many employees will be affected. It will also cut roughly another 570 positions as part of its acquisition of Noble Energy. READ our Privacy-policy and cookie policy. Our Standards: The Thomson Reuters Trust Principles. Exxon Mobil Corp. plans to lay off an unspecified number of employees as low oil prices force the company to delay major projects, Chief Executive Officer Darren Woods said in an email to staff. According to Fox Business, ExxonMobil has already declared a voluntary lay-off program in Australia. also have outlined up to 15% workforce cuts. He said the pandemic will have a short-term impact on the industry and that developing countries around the world will continue for decades to rely on affordable and abundant fossil fuels to power their economies. ExxonMobil Corp. with an affiliate in Nigeria plans to lay off an unspecified number of employees as low oil prices force the company to delay major projects, Chief Executive Officer Darren Woods said in an email to staff. It’s the right thing to do and we will all benefit when we are cured of this disease.”. Jones, Benji. ExxonMobil. Exxon said the 1,900 U.S. job cuts will come mainly from its Houston-area campus, the headquarters for its U.S. oil and gas businesses. Comments are closed, but trackbacks and pingbacks are open. Exxon Mobil Corp. is preparing to cut jobs in the U.S. as the oil giant focuses on a slimmed-down and more efficient organizational structure, according to people familiar with the matter. What’s Your Best Workcell for Cobot Integration? Exxon's Australia affiliate also announced a voluntary redundancy program to reduce headcount. This development will be another setback for the industry, after Shell announced 9,000 job cuts globally, which includes Nigeria, and the announcement by Chevron that it plans to reduce its staff strength in Nigeria by 25 per cent. Please enter your email address. ExxonMobil has previously denied reports that it was considering layoffs. Exxon had about 88,300 workers, including 13,300 contractors, at the end of last year. Now, the pink slips are … This is coming as the corporation disclosed plans to cut its global workforce by 15% in the next two years. Oct 05, 2020. “Today, we have no layoff plans.”. ExxonMobil Corp. with an affiliate in Nigeria plans to lay off an unspecified number of employees as low oil prices force the company to delay major projects, Chief Executive Officer Darren Woods said in an email to staff. Exxon employs nearly 16,000 in the Houston area. A Nigerian newspaper and Online version of the Vanguard, a daily publication in Nigeria covering Nigeria news, Niger delta, general national news, politics, business, energy, sports, entertainment, fashion,lifestyle human interest stories, etc. ExxonMobil. Want to learn more about ExxonMobil? The staff reduction is part of the latest effort by the Chief Executive Officer, Darren Woods, to curtail spending and halt the worst string of quarterly losses since Exxon assumed its modern form with the 1999 takeover of Mobil Corp. Exxon projects that oil and gas will make up about 50 percent of the global energy mix by 2040, down from about 60 percent today. Reporting by Jennifer Hiller in Houston and Arathy S Nair in Bengaluru; Editing by Arun Koyyur and Marguerita Choy. Irving, Texas-based Exxon Mobil Corp. (NYSE: XOM), which employs thousands of people in the Houston area, has announced more details of its previously anticipated U.S. layoff plans. This comes after the company has decreased capital spending by 30% this year alone. They have also been accused of laying people off through a “Performance Improvement Plan” (PIP). Despite the industry contraction, Woods dismissed fears that the oil and gas industry will never recover fully from the pandemic. According to Business Insider ExxonMobil released a memo on Monday saying, “Unfortunately, we continue to see prolonged negative market impacts that require us to make further changes so we are best positioned to take advantage of market improvements when they occur.”. BP Plc plans to slash 10,000 jobs, and Chevron Corp. has announced around 6,000 reductions. Royal Dutch Shell Plc RDSa.L and BP Plc BP.L also have outlined up to 15% workforce cuts. Ghosh, Palash. “The impact of COVID-19 on the demand for Exxon Mobil’s products has increased the urgency of the ongoing efficiency work,” the company said in a statement. Oil giant ExxonMobil on Thursday said it plans to lay off 1,900 U.S. workers. You will receive mail with link to set new password. ExxonMobil to Cut European Workforce 11% with 1,600 layoffs. It circulates in Nigeria and Ghana, EXPLAINER: Here’s why Okonjo-Iweala needs US support for WTO…, Nigerians’ immigration to Canada booms amid economic…, How development of genome-editing scissors earned 2 women…. ExxonMobil Corp. with an affiliate in Nigeria plans to lay off an unspecified number of employees as low oil prices force the company to delay major projects, Chief Executive Officer Darren Woods said in an email to staff. “We still have some significant headwinds, more work to do and, unfortunately, further reductions are necessary,” Woods said in a company letter to employees Wednesday. “Exxon Made Managers Dub Some Employees Poor Performers to Cut Staff – Business Insider.” Business Insider, Business Insider, 30 July 2020, https://www.businessinsider.com/exxon-managers-dub-some-employees-poor-performers-cut-staff-2020-7. In order to take a "leading role in undoing systemic discrimination against the Black community in the U.S.," Cummins,  announced on Oct. 30 that it was launching a program called the  Cummins Advocating for Racial Equity (CARE). ExxonMobil, which employs 75,000 workers worldwide, and 14,000 in Europe, said Europe is still key to its operations. https://techstaffer.blog/2020/08/03/exxonmobil-uses-performance-reviews-to-justify-job-cuts/, https://techstaffer.blog/2020/08/05/first-exxon-layoffs-now-loss-of-401k-matching/, https://www.businessinsider.com/exxon-managers-dub-some-employees-poor-performers-cut-staff-2020-7, https://energy.theretirementgroup.com/exxonmobil-educate, https://earther.gizmodo.com/exxon-is-reportedly-eyeing-layoffs-1844920035, https://www.foxbusiness.com/markets/exxon-weighs-global-job-cuts-after-unveiling-australian-lay-off, https://www.reuters.com/article/us-exxon-mobil-cuts/exxon-weighs-global-job-cuts-after-unveiling-australian-lay-off-plan-idUSKBN25T0AI, https://www.ibtimes.com/exxon-mobil-considers-layoffs-spending-cuts-save-its-dividend-3019739, https://hr.na.xom.com/us/benefits-policies/investmentindex#a1399111-ffff-4778-970e-cc8bb06ddd8a.

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