Exxon Mobil to cut 2,000 jobs globally amid restructuring

Core Insights - Exxon Mobil plans to lay off 2,000 workers globally, representing about 3% to 4% of its workforce, as part of a long-term restructuring plan aimed at improving efficiency [1][2] - The company has been streamlining operations following its $60 billion acquisition of Pioneer Natural Resources in 2024, and previously announced nearly 400 job cuts in Texas [2] - The broader oil and gas industry is experiencing significant job cuts, with companies like Chevron, BP, and ConocoPhillips also announcing substantial layoffs due to weaker crude oil prices and market consolidation [3] Company-Specific Developments - Exxon Mobil's global workforce was reported to be 61,000 at the end of 2024, indicating the scale of the current layoffs [5] - The company emphasized the importance of aligning its global footprint with its operating model to enhance efficiency [2] Industry Trends - The U.S. oil and gas production sector saw a decline of 4,700 jobs in the first half of the year, reflecting ongoing challenges in the market [4] - Benchmark Brent crude futures have decreased by approximately 10.5% year-to-date, influenced by increased OPEC+ output and demand uncertainties related to U.S. trade policy [5]