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Exxon Mobil to cut 2,000 jobs globally amid restructuring
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Exxon Mobil to cut 2,000 jobs globally amid restructuring
Sep 30, 2025 5:45 AM

Sept 30 (Reuters) - Exxon Mobil ( XOM ) will lay off

2,000 workers globally as part of a long-term restructuring

plan, the U.S. energy major told Reuters in an emailed

statement, adding to a wave of job cuts in the oil and gas

industry this year.

The layoffs represent about 3% to 4% of the company's global

workforce and are part of an ongoing efficiency drive, according

to Bloomberg News, which first reported the news earlier on

Tuesday.

Exxon Mobil ( XOM ) has been streamlining its operations after

closing its $60 billion purchase of Pioneer Natural Resources in

2024. In November last year, the company revealed in a filing

that it would cut nearly 400 jobs in Texas.

"We've seen the value of bringing people together in the

same location... we are aligning our global footprint with our

operating model and bringing our teams together," the company

said in an emailed statement on Tuesday.

On Monday, Canadian shale producer Imperial Oil ( IMO ), in

which Exxon is a major shareholder, announced plans to cut 20%

of its workforce and shutter business in Calgary.

Global energy companies have announced thousands of job cuts

this year, as the sector navigates weaker crude oil prices and a

rapid consolidation.

Chevron plans to lay off 15% to 20% of its global workforce,

while BP has said it would cut more than 5% of its jobs and

ConocoPhillips has announced it would cut 20% to 25% of its

jobs.

U.S. oil and gas production jobs fell by 4,700 in the first

six months of this year, Texas labor market statistics showed.

Activity levels in the key U.S. producing states of Texas,

Louisiana and New Mexico declined slightly in the third quarter,

with several industry executives reporting significant delays in

investment decisions in response to price volatility, according

to a survey by the Federal Reserve Bank of Dallas.

Benchmark Brent crude futures are down about 10.5%

year-to-date, impacted by increased OPEC+ output and persistent

demand uncertainty tied to the U.S. trade policy.

Exxon employed 61,000 people globally at the end of 2024,

according to a regulatory filing.

(Reporting by Vallari Srivastava in Bengaluru; Editing by

Mrigank Dhaniwala and Sriraj Kalluvila)

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