Exxon Mobil has announced it will lay off 2,000 employees—about 3% to 4% of its global workforce—by the end of 2027 as part of a broader cost-cutting and restructuring effort. Roughly half of these cuts will come from its Canadian affiliate, Imperial Oil, which recently confirmed 900 job losses, mostly in Calgary. The remaining layoffs will primarily impact employees in Norway and the EU.

The oil giant aims to boost efficiency by consolidating office locations and adapting to shifting global business conditions. Notably, no job cuts are planned in the U.S. Exxon plans to build a new European Technology Centre in Belgium, while closing smaller EU offices.

These changes come amid falling global oil prices and rising output from OPEC+ members, pushing energy companies to scale back. Exxon has also voiced concern over strict EU sustainability regulations, arguing they could drive businesses out of Europe.

The job cuts follow similar moves by Chevron and ConocoPhillips, reflecting broader volatility in the energy sector. For Canada—particularly Alberta—these cuts add pressure to an already strained job market, raising concerns about long-term employment stability in the oil and gas industry.

Have you been laid off by Exxon Mobil in Canada? Contact our employment lawyers today. Our legal team offers a free consultation and works on a contingency basis—there are no fees unless you win your case.

Sheila Dang and Vallari Srivastava’s original article, “Exxon to cut 2,000 jobs in restructuring hitting Canada and EU” was published in Reuters on September 30, 2025. Read the Full Reuters News story.