Exxon Mobil weighs global job cuts after unveiling its lay-off program for Australian employees

Exxon Mobil weighs global job cuts after unveiling its lay-off program for Australian employees

On Wednesday, Exxon Mobil Corp (XOM.N) said that it would assess possible worldwide job cuts after the company announced that it had started a voluntary redundancy program for its Australian employees.

The program was offered to all employees located in Melbourne, Gippsland, Sydney, Adelaide, and Perth.

“We have evaluations underway on a country-by-country basis to assess possible additional efficiencies to right-size our business and make it stronger for the future,” Exxon Mobil’s Spokesman Casey Norton said in an interview with Reuters.

“This program will ensure the company manages through these unprecedented market conditions,” he added.

Exxon slashed its capital spending by 30% to around $23 billion this year. The oil and gas company said in August that it planned both capital and operating expense cuts to defend its dividend after reporting losses in the first and second quarters.

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