The US oil giant Exxon Mobil said today, Monday, that it intends to reduce the European workforce by up to 1,600 people in the company's various branches by the end of 2021 as part of a global review.
Exxon explained that the amount of the reduction in each country will depend on the size of its local activity and market conditions, after the Covid-19 pandemic hit demand for its products and after the decline in crude prices.
Major oil companies are laying off employees, cutting spending and curbing dividends, in order to provide liquidity in light of dark speculation over energy prices, which are expected to remain weak for years.
Last month, Exxon announced voluntary layoffs in Australia and said job cuts would continue globally until 2021.
