Dean Mouhtaropoulos/Getty ImagesExxon warned last week that there's "significant potential" for additional spending reductions, which could include job cuts. "The company is undertaking a comprehensive look at additional cost reductions, based on long-term structural efficiencies, reduced activity, and an evaluation of workforce requirements," Exxon said in a statement to Business Insider.
"The company is undertaking a comprehensive look at additional cost reductions, based on long-term structural efficiencies, reduced activity, and an evaluation of workforce requirements," Exxon said in a statement to Business Insider. "We do see the potential for further reductions, including in overhead and management positions."The warning comes after Exxon, headquartered in Irving, Texas, began shrinking its workforce through its annual performance review cycle, .
Exxon, like other oil giants, has been losing money in the wake of the oil market collapse. On Friday, the company reported a $1.1 billion loss for the second quarter, citing "global oversupply and COVID-related demand impacts." On Friday, Chapman said there's "significant potential for additional reductions," which include job cuts.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
See this why I say that oil field shit for somebody else like your job can be lost by shit you don’t even cause
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside story: Humana's $100 million bet on telehealth startup Heal - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Salaries for workers at BP, Exxon, Shell, Chevron, other oil giants - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
How business owners can cut costs and prepare their companies for an uncertain future - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Unemployed during coronavirus pandemic: Business Insider survey - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Well Good Evening, check me out then Work at a university. So yup. Unemployed. And they are clueless how to reopen so far.
Source: BusinessInsider - 🏆 729. / 51 Read more »
The perfect sample resume for anyone looking for a new job - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Starbucks barista: What my job is like during the pandemic - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Basically any customer service job is like a social experiment.
Source: BusinessInsider - 🏆 729. / 51 Read more »