Exxon to slash thousands of jobs in major corporate overhaul and comprehensive restructuring plan

Oil giant Exxon Mobil is preparing to cut thousands of jobs worldwide in a corporate reshuffling.A spokesperson for Exxon confirmed to Barron’s on Tuesday that the company plans to cut 2,000 jobs, representing 3% to 4% of the energy company’s global workforce.The news was first reported by Bloomberg, which said that Exxon sent a memo to employees noting the company is consolidating smaller offices into regional hubs as part of a long-term restructuring plan.INVESTORS FEAR BIG OIL COULD CUT SHARE BUYBACKS AS CRUDE PRICES SLUMP"Our global office network was established decades ago under very dif