Reuters reveals Marathon Petroleum begins widespread job cuts

Reuters broke the news that top U.S. refiner Marathon Petroleum was beginning widespread job cuts, and followed up with an exclusive report revealing that the oil refiner is cutting at least 6% of its staff. A day later, the big round of layoffs was confirmed by Marathon in a disclosure to the U.S. SEC. Refiners and oil producers have been cutting staff, slashing spending and reducing production to cope with weak prices and a global glut of fuel. U.S. gasoline futures are down 26% from a year ago and oil futures are trading down a third from where they began the year.

Article Tags
Topics of Interest: Environment
Type: Reuters Best
Sectors: Commodities & Energy
Regions: Americas
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
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