Exxon has announced that it will cut 1,900 jobs in the United States. Ultimately Exxon wants to shrink their workforce by an estimated 14,000 by the end of 2022.
Most of the United States’ job cuts will come from their headquarters in Houston. Some of the main reasons for the job cuts is the global coronavirus pandemic and the drop in the price of crude oil. Another sign that things are not going so well for Exxon is it being removed from the Dow Jones Industrial Average back in August 2020.
Exxon also cut over 1,000 jobs in Europe and Australia.
