Exxon Mobil reports big net loss and downsizes
The US oil and gas supermajor presents a third quarter report surpassing analysts' projections – but still incurs a net loss of USD 680 million, due to the pandemic-related drop in fuel demand. Now the group plans to shave its investment budget and lay off staff.
Quite a few eyebrows were raised when news emerged earlier this week that Exxon Mobil is planning to lay off around 14,000 personnel in order to defend its shareholder dividend.
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