US “Exxon Mobil” lay off 1900 employees due to “Covid-19”

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The American oil company “Exxon Mobil” says it is going to lay off the services of about 1900 employees to improve efficiency and reduce costs.

  • The company surprised the sharp drop in energy prices and the collapse in demand this year

ExxonMobil, the US oil company, announced today, Thursday, that it will lay off about 1,900 employees in the United States as part of an ongoing reorganization and change in the work system to improve efficiency and reduce costs.

The American oil giant kept its fourth quarter cash dividends at 87 cents per share, making 2020 the first year in which it did not raise dividends to its shareholders since 1982.

The company was surprised by the sharp drop in energy prices and the collapse in demand this year. Prices in the United States have fallen 39 percent since the beginning of this year, as global demand has collapsed due to the Corona pandemic.

The company recorded losses for two consecutive quarters for the first time. It is expected to incur losses of $ 2 billion for the full year, according to Refentive estimates, excluding asset sales and devaluations.

The company is scheduled to announce its third-quarter financial results tomorrow, Friday.

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