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Exxon Prepares to Cull U.S. White-Collar Ranks by as Much as 10%

  • Performance-improvement program will involve 5%-10% annually
  • Reviews are separate from sweeping job cuts disclosed in 2020
Exxon Gas Stations As Earnings Figures Are Released
Photographer: Andrew Harrer/Bloomberg
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Exxon Mobil Corp. is preparing to reduce headcount at its U.S. offices by between 5% and 10% annually for the next three to five years by using its performance-evaluation system to suss out low performers, according to people familiar with the matter.

The cuts will target the lowest-rated employees relative to peers, and for that reason will not be characterized as layoffs, the people said, asking not to be identified because the information isn’t public. While such workers are typically put on a so-called performance improvement plan, many are expected to eventually leave on their own. This year’s evaluation is happening now but affected employees have not yet been notified, the people said.