(Reuters) – Top U.S. oil producer Exxon Mobil Corp is preparing to cut its U.S. office workforce by between 5% and 10% every year for the next three to five years, Bloomberg News reported on Monday citing people familiar with the matter.
The job cuts will target the lowest-rated employees relative to peers as part of a performance assessment program and will therefore not be classified as layoffs, the report https://www.bloomberg.com/news/articles/2021-06-21/exxon-prepares-to-cull-u-s-white-collar-ranks-by-as-much-as-10 said.
(Reporting by Shariq Khan in Bengaluru)
