Bloomberg reported yesterday that Exxon Mobil is the largest manufacturer, citing people familiar with the matter. The American oil company plans to lay off 5% to 10% of its U.S.
offices every year for the next three to five years.
The Bloomberg report added that the layoffs will target employees who lag behind their peers in the performance appraisal program, and Exxon Mobil faces the arduous task of changing course to appease investors frustrated by cost overruns. In this regard, ExxonMobil spokesperson Casey Norton stated that the company has been using performance appraisal procedures "for several years" and is "completely unrelated to any layoff plans. Finally, the company announced layoffs.
Global headcount-by 2021 There will be an increase of 14,000 people by the end of the year. By the end of 2020, the company has approximately 72,000 regular employees.
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