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flag Exxon cuts 2,000 jobs globally to cut costs and boost efficiency amid industry challenges.

flag Exxon Mobil is cutting about 2,000 jobs globally, or 3% to 4% of its workforce, as part of a restructuring effort to boost efficiency and reduce costs. flag The move, part of a multi-year plan, involves consolidating offices into regional hubs and follows previous mergers of business units. flag The company aims to cut $9 billion in annual costs by 2023 compared to 2019, with overall employment down nearly 20% since 2019. flag The layoffs reflect broader industry trends, as oil companies face pressure from falling crude prices and increased competition.

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