Exxon, Chevron to cut US jobs as oil industry struggles

FILE - In this April 23, 2018, file photo, the logo for ExxonMobil appears above a trading post on the floor of the New York Stock Exchange. Exxon Mobil is slashing 1,900 jobs from its U.S. workforce as the pandemic continues to sap demand for fuel. The Irving, Texas-based oil giant said on Thursday, Oct. 29, 2020, the reductions will be both voluntary and involuntary and will largely come from its management offices in Houston.

Exxon said Thursday the reductions will be both voluntary and involuntary and will largely come from its management offices in Houston. The Irving, Texas oil giant had about 75,000 employees worldwide at the end of 2019. In a meeting with employees last week, Woods said the company is exceeding the spending reductions it announced in March, deferring more than $10 billion in capital expenses and cutting 15% of cash operating expenses. The company recently announced it would cut about 1,600 jobs in Europe and it began a voluntary staff reduction program in Australia. It is also evaluating potential job cuts in Canada.

We are in a major depression who needs the stuff

There will be a lot more jobs in our oil industry cut if Biden is elected. This will be to the benefit of profits for energy rich nations like Russia an Iran.

Biden hasn’t even got there yet. So tell me again how he’s going to kill the oil and gas industry?🤔. Trump is doing that.

exxonmobil Chevron what did you do w/ the billion$ and billion$ of $$ you were making every quarter not too long ago? Did you not save it and invest it for a rainy day to protect your workers when the inevitable day would come of a slow down? Oh I forgot, u pocketed it!

The Biden economics is already starting in full swing. This is what is to happen when you want to raise taxes as much as Biden wants too.

realDonaldTrump it’s happening

Damn

as long as the ceo s keep making their billions they don't care about their workers.

how's Trump gonna spin this?

Everyone who’s worried Biden is going to end oil and gas. Ha! Jokes on you, realDonaldTrump is all but killed it. Most of the Texas industry people are on unemployment. Now this! 🙄

Just when you think Exxon (XOM) stock is a buy, company says🖕🏽

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Exxon to announce workforce changes Thursday. Job cuts are likely. - 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. It was that $500,000 donation to realDonaldTrump in quarter three that really sealed this deal. TrumpEconomy Nothing like fucking over workers livelihoods to balance the books.
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »

Exxon to announce workforce changes Thursday. Job cuts are likely. - 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. It was that $500,000 donation to realDonaldTrump in quarter three that really sealed this deal. TrumpEconomy Nothing like fucking over workers livelihoods to balance the books.
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »

Oil falls on oversupply fears after build in U.S. crude stocksOil prices slid more than 1 percent on Wednesday, paring the previous day's gains, as a jump in U.S. crude inventories and surging COVID-19 cases raised fears of an oversupply of oil and weak fuel demand. Remember when covid first started and oil was in the negatives so trump was paid to take it off their hands oil is finite, give everyone a tesla or the like and lets start over, infrastructure, the sun will not go red giant for another 5 billion years and its free, no microplastics or whale killing spills HOLY BITCOIN, BATMAN!!! No stopping her now! A week after the PayPal/Venmo adoption, JP Morgan is on board and Microstrategy announced $100 million profit in two month investment!!! Industrial and commercial industry FOMO is going to drive the price to the mooooooon!!!! 🚀
Источник: Reuters - 🏆 2. / 97 Прочитайте больше »