02/23/2022 | 05:17pm EST
www.reuters.com
HOUSTON, Feb 23 (Reuters) - Exxon Mobil Corp said on Wednesday its global workforce fell by 9,000 people last year as part of a deep cost cutting program after the COVID-19 pandemic battered energy demand and prices.
The largest U.S. oil producer has been restructuring, selling assets and slashing costs to boost shareholder returns after suffering a historic loss in 2020. Those efforts helped the company post its best annual profit in seven years in 2021.
*Exxon said in a securities filing that it ended last year with 63,000 regular employees, down from 72,000 in 2020 and from 74,900 before the pandemic. *
The workforce size including contractors was not disclosed. In October 2020, the company planned to cut 14,000 jobs, including contractors, or about 15% of its workforce. Exxon had about 88,300 workers, including some 13,300 contractors, at the end of 2019.
https://www.reuters.com/article/exxonmobil-layoffs/exxon-to-cut-14000-jobs-as-pandemic-hits-oil-demand-idUSKBN27E30U
Exxon in 2020 conducted "an extensive global review of staffing levels" to improve efficiency and reduce costs by the end of 2021, it said in its 2020 annual report . The review included "both voluntary and involuntary employee separations and reductions in contractors."
https://ir.exxonmobil.com/static-files/29f8cfbf-6158-49b2-b2da-53a617525b72
https://www.reuters.com/business/energy/exxon-unveils-sweeping-restructuring-latest-cost-cutting-move-2022-01-31
*In January, Exxon said it planned a restructure of its global operations that will combine its refining and chemicals businesses into one. It also vowed to cut $6 billion from operating costs by next year. *
(Reporting by Sabrina Valle; editing by Richard Pullin)