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AFP
Washington
US oil and gas giant ExxonMobil announced on Monday it would slash 1,600 jobs in Europe, more than 11 percent of its workforce in the region, as it struggles with the hit from the coronavirus downturn.
“The impact of Covid-19 on the demand for ExxonMobil’s products has increased the urgency of the ongoing efficiency work,” the Texas-based company, said in a statement.
The company said the job cuts would happen by the end of next year but did not any additional details saying only that “Country-specific impacts will depend on the company’s local business footprint and market conditions.”
Facing decreased demand for crude caused by the coronavirus pandemic, ExxonMobil has seen its share value on Wall Street plummet by more than half this year.
Washington
US oil and gas giant ExxonMobil announced on Monday it would slash 1,600 jobs in Europe, more than 11 percent of its workforce in the region, as it struggles with the hit from the coronavirus downturn.
“The impact of Covid-19 on the demand for ExxonMobil’s products has increased the urgency of the ongoing efficiency work,” the Texas-based company, said in a statement.
The company said the job cuts would happen by the end of next year but did not any additional details saying only that “Country-specific impacts will depend on the company’s local business footprint and market conditions.”
Facing decreased demand for crude caused by the coronavirus pandemic, ExxonMobil has seen its share value on Wall Street plummet by more than half this year.
