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Business & Finance

Reuters exclusively reports Exxon prepares spending, job cuts in last ditch move to save dividend

Reuters reported exclusively that Exxon Mobil Corp is preparing deep spending and job cuts as it fights to preserve an 8% shareholder dividend with a multi-billion-dollar quarterly loss looming. The largest U.S. oil company slashed this year’s budget by 30% in April, but Chief Executive Darren Woods’s turnaround through rebounding demand and increased asset sales have not panned out and losses are climbing.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Commodities & Energy
Regions: Americas
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
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