Exxon To Cut Cost and Lay-off To Meet Dividend Commitments- Reports Reuters

  • Jul 31, 2020 NZST
  • Team Kalkine
Exxon To Cut Cost and Lay-off To Meet Dividend Commitments- Reports Reuters

Exxon Mobil Corp prepares to cut spending and jobs in a bid to preserve an 8 per cent dividend for shareholders- reports Reuters.

  • The Company plans for a considerable lay-off and cost reduction after witnessing a multi-billion-dollar quarterly loss.
  • Exxon in April 2020 trimmed 2020 budget by 30 per.
  • However, some independent analysts believe that the Company would not be able to generate enough cash from production operations this year to cover the dividend.

 


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