ExxonMobil(US:XOM) Zhi Tong Cai Jing·2025-09-30 12:12Core Viewpoint - ExxonMobil plans to cut approximately 2,000 jobs globally, representing about 3% to 4% of its total workforce, as part of a long-term restructuring initiative aimed at enhancing efficiency and competitiveness [1][4]. Group 1: Job Cuts and Restructuring - The job cuts are part of ExxonMobil's ongoing efforts to streamline operations by consolidating smaller offices into regional centers [1]. - The company has been implementing internal restructuring since 2019, with CEO Darren Woods emphasizing the need for difficult decisions to maintain a competitive edge [1][4]. - Other major oil companies, such as Chevron, ConocoPhillips, and BP, have also announced significant layoffs due to falling oil prices driven by OPEC+ production increases [1]. Group 2: Cost Savings and Performance Improvement - Since 2019, ExxonMobil has achieved annual cost savings of $13.5 billion, surpassing the total savings of all other international oil giants combined [4]. - The company aims to increase these savings by 30% by 2030, with some of the cost reductions achieved through asset sales and layoffs [4]. - The restructuring has led to improved performance metrics, including better maintenance of key facilities and enhanced collaboration across business units [4]. Group 3: Workforce Statistics - As of the end of 2024, ExxonMobil's global workforce is projected to be 61,000, a reduction of nearly 20% since 2019 [5]. - Empire Oil, in which ExxonMobil holds a nearly 70% stake, is expected to have a workforce of 5,100 by the end of 2024 [5].