ExxonMobil to Lay Off 2,000 Employees Worldwide

ExxonMobil, one of the largest oil producers in the world, plans to cut around 2,000 jobs, Orda.kz reports.

Bloomberg notes that the company will shut down small local offices in several countries and merge them into larger regional hubs. The layoffs are part of a long-term restructuring plan and will affect about 3–4% of ExxonMobil’s global workforce.

Other major oil companies, including Chevron, which operates in Kazakhstan, have also announced major staff reductions this year. However, ExxonMobil’s downsizing is tied to a multi-year restructuring effort.

Since 2019, the company has cut $13.5 billion in costs, helping it maintain profits and boost performance. The corporation currently employs 61,000 people.

It remains unclear whether these cuts and office consolidations will affect ExxonMobil’s operations in Kazakhstan. The company holds a 16.81% stake in NCOC, the consortium developing the Kashagan field, and owns 25% of Tengizchevroil.

Earlier, Orda.kz reported that Chevron, ExxonMobil’s main competitor, is seeking an extension of its stabilized contract for the Tengiz project.

Original Author: Nikita Drobny