FILE PHOTO: An Exxon sign is seen at a gas station in the Chicago suburb of Norridge, Illinois, U.S., October 27, 2016. REUTERS/Jim YoungThe once mighty oil giant has been recently through difficult times also due to ill-timed bets on new oilfields and expansions.The company lost nearly US$1.7 billion in the first six months and is expected to post another quarterly loss on Friday.
Exxon said the job cuts, part of a global reorganization, will come mainly from its Houston, Texas office and will include voluntary and involuntary programs. "The impact of COVID-19 on the demand for ExxonMobil's products has increased the urgency of the ongoing efficiency work," the company said in a statement.
Employees who are separated through involuntary programs will be provided severance and outplacement services.
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