Energy & Science
Exxon CEO Plans Layoffs, Underscores Faith in Fossil Fuels
- Darren Woods sends message to staff about ‘difficult times’
- Oil giant to delay projects, meaning fewer employees needed
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Exxon Mobil Corp. plans to lay off an unspecified number of employees as low oil prices force the company to delay major projects, Chief Executive Officer Darren Woods said in an email to staff.
Woods also mounted an extensive defense of fossil fuels, calling them a “higher purpose” that aids global prosperity at a time when European peers are looking at renewables as the future.