Exxon's `Leaner Ship' Floats Higher Than Rivals in Oil Downturn
- Texas oil giant has avoided layoffs sweeping rest of industry
- Chevron eliminating up to 14,000 workers and contractors
Oil Company Profits Decline, Dividends Are at Risk
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Decades of financial discipline that honed Exxon Mobil Corp. into the leanest, most-efficient oil company in the world are paying off as it navigates the worst market slump since the 1980s.
As industry job cuts top 200,000 worldwide, Exxon has kept its 75,300-strong workforce intact with none of the sweeping layoffs seen at other oil companies, including its biggest U.S. rival Chevron Corp.