ExxonMobil planning to cut US office jobs by up to 10% annually

ExxonMobil is reportedly planning to reduce its workforce at its offices in the US by up to 10% annually over the next three to five years.

The company is undertaking a performance evaluation process to decrease the headcount. As the reductions will include the lowest-rated employees, the process is not considered as a layoffs move.

The US-based oil and gas company employed 72,000 employees globally at the end of last year. Out of the total headcount, 40% of the workers were employed in the US.

The new measure from ExxonMobil is separate from the announcement made by the company last year to cut 14,000 jobs worldwide by 2022.

In March, ExxonMobil announced plans to lay off nearly 300 employees in Singapore by the end of this year, as part of its efforts to boost and sustain its long-term competitiveness.