Exxon to Cut US Workforce by Up to 10% Annually

Top U.S. oil producer Exxon Mobil Corp is preparing to cut its U.S. office workforce by between 5% and 10% every year for the next three to five years, Bloomberg News reported on Monday citing people familiar with the matter.

The job cuts will target the lowest-rated employees relative to peers as part of an ongoing performance assessment program and will therefore not be classified as layoffs, the said. The affected employees have not been notified yet, the report added.

https://www.oedigital.com/news/488612-exxon-to-cut-us-workforce-by-up-to-10-annually

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s