Exxon Mobil Corp. (NYSE:XOM) is set to cut roughly 2,000 jobs across its global operations as the Houston-based energy giant consolidates smaller offices into larger regional hubs, Bloomberg reported Tuesday.
The reductions account for about 3% to 4% of Exxon’s worldwide workforce and form part of the company’s broader initiative to boost efficiency, CEO Darren Woods explained.
In a memo to staff on Tuesday, Woods outlined that these job cuts are a component of Exxon’s long-term restructuring strategy, designed to streamline operations and improve overall performance.
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