Investor Day 2022 - We Have Another $4 billion in Structural Efficiencies to Achieve This Year

Most notable highlight concerning OPEX at the 2022 Investors Day today was, "Achieved $5 billion of annual structural cost reductions through 2021 compared to 2019; additional $4 billion expected by 2023"

We can only hope that the additional $4 billion in structural efficiencies this year and perhaps some of next year is headcount associated with asset sales.

Investor Day Main Website (recording to be posted)
https://corporate.exxonmobil.com/Investors/Investor-relations/Investor-Day

PowerPoint Deck (as downloadable PDF)
https://corporate.exxonmobil.com/-/media/Global/Files/investor-relations/analyst-meetings/2022-ExxonMobil-Investor-Day.pdf

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Headcount reduction and asset sales. You can make your own predictions on headcount reduction in 2022 based on the last two years.

Source: ExxonMobil Annual Reports

Year Regular Employees At End of Year
2019 74,900
2020 72,000
2021 63,000 ($5 billion in cost reduction compared to end of year 2019 - Investors Day)
2022 tbd (additional $4 billion in structural cost reduction announced at Investors Day)

There is a site in zip code 08801 that can help achieve this OPEX reduction, stop the bleeding, nothing to see here.

Thread regarding ExxonMobil Corp. layoffs

Investor Day 2022 - We Have Another $4 billion in Structural Efficiencies to Achieve This Year

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