Exxon to announce workforce changes Thursday. Job cuts are likely. - Business Insider

"The workforce studies have been underway globally to assess potential for further cost reductions from structural efficiencies and lower activity levels across our business," said an email sent to some Exxon employees on Wednesday evening.

In an employee forum last week, Exxon's CEO, Darren Woods, said the board would meet this week to discuss the results of the US review, and share an update with employees shortly after. That meeting was today, according to an Exxon spokesperson. "Making the organization more efficient and more nimble will reduce the number of required positions and, unfortunately, reduce the number of people we need," Woods saidNearly all major oil companies including BP, Chevron, and Shell are cutting staff to shrink spending amid the oil price downturn. On Wednesday, the price of Brent crude, the international benchmark,"Until the U.S.

. The performance-based cuts, initiated over the summer, could end up shrinking Exxon's US workforce by up to 10%. Now the firm is expected to announce US workforce reductions, as it finishes country-by-country reviews.

Nothing like fucking over workers livelihoods to balance the books.

It was that $500,000 donation to realDonaldTrump in quarter three that really sealed this deal. TrumpEconomy

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