Exxon weighs global job cuts after unveiling Australian lay-off plan | The Business Standard
Skip to main content
  • Latest
  • Epaper
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Monday
June 16, 2025

Sign In
Subscribe
  • Latest
  • Epaper
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
MONDAY, JUNE 16, 2025
Exxon weighs global job cuts after unveiling Australian lay-off plan

Global Economy

Reuters
02 September, 2020, 06:55 pm
Last modified: 02 September, 2020, 06:57 pm

Related News

  • Exxon, Chevron top Q3 profit expectations as US oil output hits record high
  • Exxon's $60 billion fight with chevron will reshape big oil
  • US probing Exxon contractor in Guyana for smuggling drugs, gold
  • Exxon signals strong Q3 earnings on natural gas pricing
  • Exxon, Chevron post blowout earnings, oil majors bet on buybacks

Exxon weighs global job cuts after unveiling Australian lay-off plan

In Australia, Exxon said on Wednesday it had completed a review of its current and future project work in the country and was seeking volunteers to quit the company

Reuters
02 September, 2020, 06:55 pm
Last modified: 02 September, 2020, 06:57 pm
An Exxon sign is seen at a gas station in the Chicago suburb of Norridge, Illinois, U.S., October 27, 2016. Reuters/Jim Young
An Exxon sign is seen at a gas station in the Chicago suburb of Norridge, Illinois, U.S., October 27, 2016. Reuters/Jim Young

Exxon Mobil Corp is assessing possible worldwide job cuts, a spokesman said on Wednesday, after the company announced a voluntary lay-off programme in Australia.

Exxon is the latest oil major to embark on axing jobs spurred by a historic collapse in fuel demand because of the coronavirus pandemic.

The company has slashed capital spending this year by 30 percent to around $23 billion and said in August it planned both capital and operating expense cuts to defend its dividend after reporting losses in the first and second quarters.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

"We have evaluations underway on a country-by-country basis to assess possible additional efficiencies to right-size our business and make it stronger for the future," spokesman Casey Norton, based at the company headquarters in Irving, Texas, said in emailed comments to Reuters.

The comments mark a shift, after Exxon told Reuters in July it had no plans for layoffs due to the pandemic and no percentage targets to reduce its workforce through this year's employee reviews.

In Australia, Exxon said on Wednesday it had completed a review of its current and future project work in the country and was seeking volunteers to quit the company.

"This program will ensure the company manages through these unprecedented market conditions," it said in a statement.

The company did not say what percentage of its workforce it was seeking to cut, but said in Australia it would consider all employees who expressed an interest in voluntary redundancy.

"Until other study work is complete, it would be premature to draw conclusions for other countries," Norton said.

Exxon is looking to sell its 50 percent stake in the Bass Strait oil and gas joint venture in southeastern Australia, which analysts have estimated could fetch up to $3 billion.

Analysts have speculated it could also sell or close its Altona plant in Melbourne, Australia's oldest refinery.

Exxon

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Photo: Courtesy
    Israel-Iran conflict: Govt sets up hotline for Bangladeshis in Iran, relatives to communicate during emergency
  • Emergency personnel work at an impact site after missiles were launched from Iran to Israel, in Tel Aviv, Israel, June 16, 2025. REUTERS/Ronen Zvulun
    Israel says it is on track for objectives after Iranian missiles hit Israeli cities
  • Representational image. File photo: TBS
    Ctg Port sets new record in container handling in FY25 despite floods, strikes, and holidays

MOST VIEWED

  • Bangladesh Bank Governor Ahsan H Mansur. TBS Sketch
    Merger of 5 Islamic banks at final stage: BB governor
  • UCB launches Bangladesh's first microservices-based open API banking platform
    UCB launches Bangladesh's first microservices-based open API banking platform
  • Photo: Collected
    Pakistan rejects reports of missile supply to Iran
  • Infographic: TBS
    Non-performing loans surge by Tk74,570cr in Q1 as hidden rot exposed
  • Crore-taka bank accounts edge down by 719 in March quarter
    Crore-taka bank accounts edge down by 719 in March quarter
  • Nepal begins 38MW hydropower export to Bangladesh
    Nepal begins 38MW hydropower export to Bangladesh

Related News

  • Exxon, Chevron top Q3 profit expectations as US oil output hits record high
  • Exxon's $60 billion fight with chevron will reshape big oil
  • US probing Exxon contractor in Guyana for smuggling drugs, gold
  • Exxon signals strong Q3 earnings on natural gas pricing
  • Exxon, Chevron post blowout earnings, oil majors bet on buybacks

Features

The GLS600 overall has a curvaceous nature, with seamless blends across every panel. PHOTO: Arfin Kazi

Mercedes Maybach GLS600: Definitive Luxury

9h | Wheels
Renowned authors Imdadul Haque Milon, Mohit Kamal, and poet–children’s writer Rashed Rouf seen at Current Book Centre, alongside the store's proprietor, Shahin. Photo: Collected

From ‘Screen and Culture’ to ‘Current Book House’: Chattogram’s oldest surviving bookstore

1d | Panorama
Photos: Collected

Kurtis that make a great office wear

3d | Mode
Among pet birds in the country, lovebirds are the most common, and they are also the most numerous in the haat. Photo: Junayet Rashel

Where feathers meet fortune: How a small pigeon stall became Dhaka’s premiere bird market

5d | Panorama

More Videos from TBS

An additional 36 countries may be added to the travel restrictions imposed by the United States.

An additional 36 countries may be added to the travel restrictions imposed by the United States.

21m | TBS World
NPLs surge by Tk74,570cr in Q1 as hidden rot exposed

NPLs surge by Tk74,570cr in Q1 as hidden rot exposed

41m | TBS Insight
How powerful is the Israeli intelligence network?

How powerful is the Israeli intelligence network?

3h | TBS World
Delicious Korean Beef

Delicious Korean Beef

1h | TBS Programs
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net