Exxon to cut 14,000 jobs, including 1,900 in US, as Covid-19 hurts demand

Exxon Mobil Corp said on Thursday it could cut the number of global employees by 15% and would lay off about 1,900 employees in the United States as the COVID-19 pandemic batters energy demand and prices.

Exxon was once the largest U.S. publicly traded company, but has been slashing costs due to a collapse in oil demand and ill-timed bets on new oilfields and expansions. It has promised to shed more than $10 billion this year in project spending and cut operating expenses 15%.

An estimated 14,000 employees globally, or 15%, could lose jobs, including contractors, spokesman Casey Norton said. The cuts would include everything from layoffs to retirements or performance-based exits.