Exxon Mobil Corp. said yesterday that it could cut its global workforce by about 15 percent, including deep white-collar staff reductions in the U.S., as the COVID-19 pandemic batters energy demand and prices, Reuters reported. Exxon and other oil producers have been slashing costs due to a collapse in oil demand and ill-timed bets on new projects. The top U.S. oil company earlier outlined more than $10 billion in budget cuts this year. “The impact of COVID-19 on the demand for Exxon Mobil’s products has increased the urgency of the ongoing efficiency work,” the company said. An estimated 14,000 employees globally, or 15 percent, could lose jobs, including contractors, spokesman Casey Norton said. The figure will include losses from restructurings, retirements and performance-based exits. Exxon had about 88,300 workers, including 13,300 contractors, at the end of last year.
