Exxon to Cut 2,000 Jobs, Moves to Irving

Exxon Mobil will cut about 2,000 jobs globally—roughly 3–4% of its roughly 61,000–62,000 workforce—as part of a long-term restructuring that consolidates smaller offices into larger regional hubs and implements a new operating model. CEO Darren Woods said in a company memo and statements that the reductions, expected to fall mainly in support and administrative roles, are intended to streamline operations. The move follows Exxon's $60 billion acquisition of Pioneer Natural Resources and the relocation of corporate functions to Irving, Texas. Executives cited market pressures—price volatility, rising OPEC+ output and delayed investment decisions, with Brent down about 10.5% year-to-date—as drivers for cost-cutting across the sector. The layoffs add to a wider wave of industry reductions, including a 20% workforce cut at Imperial Oil and similar moves by Chevron, BP and ConocoPhillips.