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Exxon Mobil to cut 1,900 US jobs as Covid-19 hits oil prices
NEW YORK, Oct 30, 2020 (BSS/AFP) – Exxon Mobil said Thursday it was eliminating 1,900 US jobs as part of a cost-cutting drive necessitated in part by the hit the Covid-19 pandemic inflicted on oil prices.
The US oil giant said the job cuts would primarily impact management staff in Houston, through a mix off of voluntary programs and involuntary layoffs.
US oil prices currently traded below $40 a barrel, more than $15 a barrel under the level a year ago.
BSS/AFP/MMA/1216HRS