Exxon Mobil to Cut 1,900 U.S. Jobs as Covid-19 Hits Oil Prices

Exxon Mobil said Thursday it was eliminating 1,900 U.S. jobs as part of a cost-cutting drive necessitated in part by the hit the Covid-19 pandemic inflicted on oil prices.

The U.S. oil giant said the job cuts would primarily impact management staff in Houston, through a mix off of voluntary programs and involuntary layoffs.

U.S. oil prices currently traded below $40 a barrel, more than $15 a barrel under the level a year ago.