Reductions will include positions at Imperial Oil Ltd, ExxonMobil Canada Ltd and ExxonMobil Business Centre Canada ULC, the company said.
Oil producers, including Exxon, have been slashing costs due to a collapse in oil demand and ill-timed bets on new projects. The top U.S. oil company had earlier outlined more than $10 billion in budget cuts this year. Suncor Energy, Canada’s second biggest oil company, said last month it would cut its workforce by up to 15% over the next year and a half.
Canadian energy companies have also suffered from scarce capital due to chronic pipeline congestion and high emissions.
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We have to crush the oil industry, thee most corrupt industry in the history of the industrialized world.
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This should be good for a few more points on XOM, who the fuck cares about jobs as long as the Stock Market is doing great right!?!
Would you purchase petrol in Canada now?
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