ExxonMobil Plans Redundancy Round, CEO Maintains Faith in Fossil

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The American energy giant ExxonMobil is facing an intervention in its workforce.

 

In an email to employees, CEO Darren Woods mentions an unspecified number of employees who have to fear for their job, while projects are also being postponed.

Just like its peers, Exxon is struggling with the consequences of the low oil price. This forces society to intervene.

In addition, there is increasing criticism of fossil fuels. In Europe, in particular, the call for sustainable alternatives is getting louder. This is also causing a shift at European energy companies.

However, Woods continues to have faith in fossil energy, which he believes serves a greater purpose and aids global prosperity.

He also spoke of difficult times for the sector in which the company is forced to make difficult decisions.

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