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Stock impact report

Exxon to Cut 2,000 Workers as Oil Sector Job Losses Mount [Yahoo! Finance]

Imperial Oil Limited (IMO) 
NASDAQ:AMEX Investor Relations: imperialoil.ca/en-ca/company/investors
Company Research Source: Yahoo! Finance
Texas oil company consolidates smaller offices into regional hubs as part of its long-term restructuring plan. The reductions represent about 3% to 4% of Exxon's global workforce and are part of the company's ongoing efficiency drive, Chief Executive Officer Darren Woods said in an memo to employees Tuesday. Calgary-based Imperial Oil Ltd., which is nearly 70% owned by Exxon, announced Monday it is cutting 20% of its workforce. Most Read from Bloomberg Why US Cities Pay Too Much for Transit Buses For Lovers of Brick, Chicago Is a Wonderland After the Pandemic ‘Reset Button,' Downtowns Reinvent Themselves Trump Housing Agency Removes Lawyers Who Filed Whistleblower Report Chevron Corp., ConocoPhillips and BP Plc are among major oil companies to have also announced thousands of job cuts in recent months as crude prices tumbled this year in response to increased supplies from OPEC and its allies. Exxon, however, has been on a major internal restructuring push since 2019 as Show less Read more
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