Exxon to Cut 14,000 Jobs, 15% of Staff, to Defend Its Dividend

(Bloomberg) — Exxon Mobil Corp. will slash its global workforce by 15% over the next two years, an unprecedented culling by North America’s biggest oil explorer as it struggles to preserve dividends.The cuts will include 1,900 U.S. jobs, mostly in Houston, as well as an undisclosed number of positions around the world.“These actions will improve the company’s long-term cost competitiveness and ensure the company manages through the current unprecedented market conditions,” the company said in a statement on Thursday.Exxon’s total reduction will affect about 14,000 people, split between employees and contractors, spokesman Casey Norton said by phone. The figure includes …read more

Source:: Yahoo Finance

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