ExxonMobil to Cut 2,000 Jobs in Global Restructuring Push
ExxonMobil confirmed it will cut 2,000 jobs, or about 4% of its global workforce, as part of a restructuring effort to consolidate smaller offices into regional hubs and streamline operations. Layoffs will be concentrated in Canada and across the European Union (EU), with no U.S. positions affected, said the company in an email.
The reductions include about 20% of staff at Imperial Oil, Exxon’s Canadian affiliate, which announced it will centralize more corporate and technical functions in global technology centers to capture efficiency gains. Imperial expects the restructuring to reduce annual expenses by about $150 million by 2028, with a one-time before-tax charge of $330 million expected in the third quarter of 2025. The cuts to Imperial’s workforce are expected to be made by the end of 2027.
ExxonMobil executives said the changes will allow the company to use global scale and technology to improve collaboration and productivity. “We’ve seen the value of bringing people together in the same location. It drives innovation, strengthens execution, enhances career development, and improves teamwork,” a spokesperson said in the emailed announcement.
The restructuring follows similar workforce reductions at other oil companies. Chevron said in February it would cut as much as 20% of its global workforce, while ConocoPhillips announced plans to reduce staff by up to 25% this year. According to the Houston Chronicle, the Federal Reserve Bank of Dallas said industry executives remain pessimistic about drilling activity and employment if low crude prices persist and tariffs remain in place.
ExxonMobil employed about 61,000 people worldwide at the end of 2024, regulatory filings show.
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Amanda Joshi
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Amanda Joshi has more than 18 years of experience in business-to-business publishing for both print and digital content. Before joining Chemical Processing, she worked with Manufacturing.net and Electrical Contracting Products. She’s a versatile, award-winning editor with experience in writing and editing technical content, executing marketing strategy, developing new products, attending industry events and developing customer relationships.
Amanda graduated from Northern Illinois University in 2001 with a B.A. in English and has been an English teacher. She lives in the Chicago suburbs with her husband and daughter, and their mini Aussiedoodle, Riley. In her rare spare time, she enjoys reading, tackling DIY projects, and horseback riding.