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Exxon, Chevron to cut US jobs as oil industry struggles

The Irving,Texas-based oil giant said the reductions will be both voluntary and involuntary and...
The Irving,Texas-based oil giant said the reductions will be both voluntary and involuntary and will largely come from its management offices in Houston.(Source: Gray News)
Published: Oct. 29, 2020 at 11:29 AM CDT|Updated: Oct. 29, 2020 at 2:48 PM CDT
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NEW YORK (AP) — Exxon Mobil is slashing 1,900 jobs from its U.S. workforce, and Chevron plans to cut a quarter of the employees at Noble Energy as the pandemic saps demand for fuel.

Exxon said the reductions will be both voluntary and involuntary and will largely come from its management offices in Houston.

The oil industry has been struggling all year after prices fell well below what producers need to break even.

Exxon recently announced it would cut about 1,600 jobs in Europe and it began a voluntary staff reduction program in Australia.

It is also evaluating potential job cuts in Canada.

Copyright 2020 The Associated Press. All rights reserved.