Exxon to slash thousands of jobs in major corporate overhaul and comprehensive restructuring plan
1. Exxon plans to cut 2,000 jobs, 3%-4% of workforce. 2. This job cut is part of a long-term restructuring plan. 3. Investors fear cuts may impact share buybacks amid declining crude prices. 4. Exxon is aligning offices to improve collaboration and cost competitiveness. 5. Shares fell 1.46% to $112.55 following the announcement.