Exxon Mobil is designating 2,000 works, consolidating global operations

• Exxon Mobil will eliminate 2,000 positions as its global operations consolidate.

• The oil giant said that combining smaller locations in regional centers would improve efficiency by joining employees.
  

Exxon Mobil (Xom) It is reducing around 2,000 jobs worldwide as part of a planned reorganization, the last sign of cuts in several important oil companies has reduced its labor forces in recent months in the midst of the fall in oil prices.

The oil giant in a statement to Inventopedia He confirmed an earlier report that CEO Darren Woods explained the decision, in which the company will consolidate smaller locations, in a memorandum to employees. The company has seen “the value of joining people in the same place,” according to the statement, adding that the global Exxon Mobil offices “was established decades ago in very different circumstances.”

Gathering teams will align “our global footprint with our operational model,” said the statement. The company reported 61,000 employees in its latest annual report.

The cuts and consolidation of the Exxon Mobil workforce are part of an impulse of several years to increase efficiency. Similar movements throughout the industry reflect how oil companies are adjusting to the lowest prices and focus on maintaining profitability in a volatile energy market.

TO Bloomberg The article said Woods in his memo said the company was making “difficult decisions” as part of an effort of years to increase efficiency. Woods has been pressing those changes for about six years, Bloomberg saying.

Canada’s imperial oil (Immobile), which owns 70% of Exxon Mobil, announced yesterday that I was dismissing 20% ​​of its workforce to improve its performance “centralizing additional corporate and technical activities in global business and technology centers, which makes substantial benefits of efficiency and effectiveness of the scale, integration and technology.”

Exxon Mobil’s shares have dropped more than 1% in recent negotiations and more than 5% in the year to date. Read Investopedia’s Complete coverage of the daily markets here.

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