Exxon, Chevron to cut US jobs as oil industry struggles

Business News

FILE – In this April 23, 2018, file photo, the logo for ExxonMobil appears above a trading post on the floor of the New York Stock Exchange. Exxon Mobil is slashing 1,900 jobs from its U.S. workforce as the pandemic continues to sap demand for fuel. The Irving, Texas-based oil giant said on Thursday, Oct. 29, 2020, the reductions will be both voluntary and involuntary and will largely come from its management offices in Houston. (AP Photo/Richard Drew, File)

NEW YORK (AP) — Exxon Mobil is slashing 1,900 jobs from its U.S. workforce, and Chevron plans to cut a quarter of the employees at Noble Energy as the pandemic saps demand for fuel.

Exxon said the reductions will be both voluntary and involuntary and will largely come from its management offices in Houston.

The oil industry has been struggling all year after prices fell well below what producers need to break even.

Exxon recently announced it would cut about 1,600 jobs in Europe and it began a voluntary staff reduction program in Australia.

It is also evaluating potential job cuts in Canada.

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