Exxon to lay off 1,900 US employees, mostly in Houston

[TomCADem]

Source: Houston Chronicle

ExxonMobil plans to lay off 1,900 U.S. employees, primarily in the Houston area, as the nation’s largest oil company looks to reorganize and cut costs during the coronavirus-driven oil downturn.

The Irving oil giant, which informed employees of its layoff plans during a presentation Thursday morning, said in a press release that the layoffs will take place through voluntary and involuntary programs. Exxon employs nearly 16,000 in the Houston area.

“These actions will improve the company’s long-term cost competitiveness and ensure the company manages through the current unprecedented market conditions,” Exxon said in a statement. “The impact of COVID-19 on the demand for ExxonMobil’s products has increased the urgency of the ongoing efficiency work.”

Read more: https://www.houstonchronicle.com/business/energy/article/Exxon-lay-off-1900-US-employees-mostly-in-Houston-15685353.php

[Sherman A1]

1. Ouch

Sorry for the folks being forced out.

[Fullduplexxx]

2. Exxon lating off 1900

[mpcamb]

3. 1900 layoffs here, 700 at Boeing; market tumble coming.

With a trump debacle on the horizen all those repubs and
business types have quit propping up the stock market.
No longer even any pretense of a 'trump' healthy economy.

[Indykatie]

4. Make That 7000 Lay Offs at Boeing

Hard to square this but Shell Oil announced an increased dividend to its stockholders today.

[mpcamb]

7. Thank you. Yes, 7000. Dividends on the backs of the 7K fired.

[SomedayKindaLove]

5. Vote Texas Green jobs transitions

Need Biden and Harris to make this point in Texas visits

[getagrip_already]

6. and those lost jobs will impact thousands more......

People without jobs don't buy new pickup trucks, or move into bigger homes, or shop quite as much, or spend as freely in the local community.

And in TX, unemployment truly sucks. Little UI benefit, few resources for assistance, and a willfully blind eye by local and state gov't agencies.

Not a lot of good jobs outside of IT or healthcare (and those are battle posts) to be had these days.