Exxon Mobil, a leading US oil company, announced that it will lay off 2,000 workers worldwide, mainly in Canada and the European Union (EU).
The move is part of a long-term restructuring plan that is expected to affect about 3% to 4% of the company's workforce.
Exxon also said that about 1,200 positions will be cut in Norway and the EU by the end of 2027.
The company announced thousands of layoffs this year to curb costs following the decline in global oil prices due to increased OPEC+ production.
In addition, Exxon will build a new office at its Antwerp refinery in Belgium, which will house a European Technology Center and most of the employees from Brussels and close several other small offices in Europe.
The job cuts in Europe come as Exxon CEO Darren Woods criticized EU sustainability laws that could impose fines of up to 5% of global sales if companies fail to address environmental issues in their supply chains.
In an interview with Reuters earlier this month, Woods said the law could push more businesses out of Europe and called for the rules to be repealed.
Chevron, the second-largest U.S. oil producer, announced in February that it would cut 20% of its global workforce and expand the use of global centers, including an engineering hub in Bengaluru.
Meanwhile, ConocoPhillips also announced plans earlier this month to cut about 20% to 25% of its workforce.
Texas labor market statistics showed that jobs in the U.S. oil and gas production sector fell by 4,700 in the first six months of the year.
