Exxon Mobil plans major staff cost cuts

Exxon Mobil is planning to downsize in the US, where around 1,900 jobs are in line to be scrapped, reports Bloomberg News.

Photo: KAREN BLEIER/AFP/Ritzau Scanpix

The cost-cutting will take place to bolster the company's competitiveness during present market conditions, which Exxon says are unparalleled.

The timing – and which divisions the supermajor intends to trim – remain undisclosed. However, the reductions follow on the heels of previously announced adjustments in Europe and Australia entailing 1,600 layoffs.

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