https://www.reuters.com/sustainability/exxon-mobil-cut-2000-jobs-bloomberg-news-reports-2025-09-30/
24 replies (most recent on top)
PIP only affect MPT. half of workforce is field /union. WE need to raise PIP to 20% to get a 10% reduction in MPT headcount. Let's do it. No raises for anyone in bottom 40%, inflation for the rest. Cut RSU in half and eliminate management bonus until oil prices get back to 75/B. Cut 25% of executives. Fewer big assets means fewer country managers and fewer plant managers. Simplified org means less management required. Cut all high cost expatriate executives
I thought Orange Man 2.0 was going to be great for O&G? So much for that.
For those of you who voted for this economy last year…enjoy your karma.
@bw I feel very sorry for you, 2 main reasons. 1) Being a shareholder 2) Being an absolute a--hole
As an investor, I'm thrilled. Too many slackers.
We will be 42,000 regular employees by 2030. Currently 62,000 in December 2024.
Wait ! Are these cuts over and above the PIPs?
@av+1k6d2jfsg Wish that was true, but he did exactly this during covid.
Remember he loves the company and his employees!
Good for those 2000 to be cut, I assume they will get decent severance. Poor pippiies, I pity them.
DW works for DJT… he wouldn’t dare mess with US jobs at the risk of US employees telling our friends in government of what XOM is doing. Other countries don’t have this type of protection like the US enjoys now.
So what's next, suspend the 401K company contributions again like in 2020? Or stop the pension? ghheezzz
1200 is just the "announced" planned layoff. What about the ongoing PIP program that's roughly 10% of the workforce. I assume that the PIP program would target the "fail" outcome, so that should sum to about 13% workforce reduction. good job dw.
@at
DW would not have specifically called out US as not impacted, if HOU is next. The lawyers would have vetted his message two thousand times
HOU is next after SG tomorrow. Will it be before year end?
Ki-ling any residual employee commitment and engagement daily.
The underwritten part: … and the balance of reductions will be achieved through a ramp up of our historical means using performance evaluations
Estimated breakdown of 2000 by countries?
As a shareholder I am very happy to see this!
@a7 management lies
@a2
Post it here!
And you believe everything DW says? Bless your heart. LOL
Exxon to cut 2,000 workers as oil sector job losses mount
The reductions represent about 3% to 4% of Exxon’s global workforce
Published Tue, Sep 30, 2025 · 06:51 PM
[TEXAS] ExxonMobil plans to cut about 2,000 jobs globally as the Texas oil company consolidates smaller offices into regional hubs as part of its long-term restructuring plan.
The reductions represent about 3 per cent to 4 per cent of Exxon’s global workforce and are part of the company’s ongoing efficiency drive, chief executive officer Darren Woods said in a memo to employees on Tuesday (Sep 30). Calgary-based Imperial Oil, which is nearly 70 per cent owned by Exxon, announced on Monday it was cutting 20 per cent of its workforce.
Chevron, ConocoPhillips and BP are among major oil companies to have also announced thousands of job cuts in recent months as crude prices tumbled this year in response to increased supplies from Opec and its allies. Exxon, however, has been on a major internal restructuring push since 2019 as Woods sought to simplify the company’s sprawling global footprint that came as a result of the merger with Mobil two decades ago.
Exxon is making “tough decisions” that build upon a years-long effort to improve competitiveness, Woods said in the memo. “The changes we’ve announced today will further strengthen our advantages and grow the gap with our competition, helping to keep us in the lead for decades to come,” he said.
Exxon declined to comment beyond the employee memo.
The regional hubs will focus on Exxon’s major growth initiatives such as oil in Guyana, liquefied natural gas along the Gulf Coast and trading globally. For example, the company recently announced plans to move employees from Brussels and Leatherhead, UK, to central London, where many of its traders are based.
https://www.businesstimes.com.sg/companies-markets/energy-commodities/exxon-cut-2000-workers-oil-sector-job-losses-mount
@a6 in his memo to all employees he specifically said no US (6th para)
DW is earning his pay this year He must be executing the PIP issued to him by the board. At this rate, there will be layoffs in US by Thanksgiving.
2000 hc10...this prove kltc and btc folks has what it takes to do those guys job at cheaper rate...btc and kltc rock....
The email from DW has gone out to everyone now…