XOM to reduce European workforce by 1,600

ExxonMobil said Monday it will cut up to 1,600 jobs in its European affiliates by the end of 2021, Kallanish Energy reports.

The move is part of a global review aimed at improving efficiency and reducing costs, through reorganizations and work-processes changes. But reflects the increased “urgency” in ongoing efficiency work due to the demand destruction caused by the Covid-19 pandemic.

ExxonMobil defended Europe remains “an important market,” while noting “significant actions are needed at this time to improve cost competitiveness and ensure the company manages through these unprecedented market conditions.”

The specific impacts for each country will depend on local business footprint and market conditions. ExxonMobil didn’t provide further details.

This post appeared first on Kallanish Energy News.