10:36 AM EDT, 10/03/2024 (MT Newswires) -- Exxon Mobil ( XOM ) can move forward with job cuts at its Port Jerome refinery in northern France after securing a majority agreement with unions, Reuters reported Thursday, citing a company spokesperson.

Workers have been striking at the petrochemical side of the refinery since May to protect jobs, according to the report.

On Monday, Exxon said it reached a deal with two of the four unions, after agreeing to reduce planned job cuts in France to 608 from 677, Reuters reported. The agreement allows Exxon to submit its draft Employment Protection Plan for French government's approval, it added.

However, two other unions, CGT and Force Ouvriere, declined to sign the plan and vowed to extend the strike.

"For the CGT, the struggle will continue until the installations are dismantled. We have submitted an alternative project to the authorities, asking them to compel Exxon Mobil ( XOM ) to maintain the activity or, failing that, to find a buyer," a CGT spokesperson told Reuters.

Exxon, CGT and Force Ouvriere did not immediately respond to MT Newswires' requests for comment.

Exxon shares were more than 1% higher in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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