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.
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
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