⁍ Exxon could cut its global workforce by about 15%, including deep white-collar staff reductions in the United States.

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⁍ The company is not targeting a fixed number of jobs but does expect the result of its ongoing business review to eliminate about 15% of its current staffing.

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⁍ Exxon, which has struggled in recent years to regain footing after misplaced bets on shale gas and Russia exploration, lost nearly $1.7 billion in the first six months of the year.

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– Exxon Mobil is the latest big name to announce job cuts as the oil and gas industry struggles with low oil prices and a flu-like pandemic that has wiped out millions of people around the world. The company said Thursday that it could cut its global workforce by about 15%, including 1,900 white-collar jobs in the US, reports Reuters. The company said the cuts will come mostly from its Houston-area campus, the headquarters for its US oil and gas businesses. Earlier this month, Exxon said it would cut 1,600 jobs in Europe. Royal Dutch Shell Plc, BP Plc, and Chevron also have outlined up to 15% workforce cuts. Exxon and other oil producers have been slashing costs due to a collapse in oil demand and ill-timed bets on new projects. “The impact of COVID-19 on the demand for Exxon Mobil’s products has increased the urgency of the ongoing efficiency work,” the company said in a statement. The company had about 88,300 workers, including 13,300 contractors, at the end of last year. The company is not targeting a fixed number of jobs but does expect the result of its ongoing business review to eliminate about 15% of its current staffing. Exxon, which has struggled in recent years to regain footing after misplaced bets on shale gas and Russia exploration, lost nearly $1.7 billion in the first six months of the year. It is expected to report a record-setting third straight quarterly loss on Friday, and its third-quarter loss could reach $1.19 billion, according to Refinitiv IBES.