Exxon to Cut 2,000 Workers as Oil Sector Job Losses Mount

Bloomberg.com · last updated September 30, 2025 – 3:40 AM

Exxon Mobil Corp. plans to cut about 2,000 jobs globally as the Texas oil company consolidates smaller offices into regional hubs as part of its long-term restructuring plan.

The reductions represent about 3% to 4% of Exxon’s global workforce and are part of the company’s ongoing efficiency drive, Chief Executive Officer Darren Woods said in an memo to employees Tuesday. Calgary-based Imperial Oil Ltd., which is nearly 70% owned by Exxon, announced Monday it is cutting 20% of its workforce.

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