❓What’s really behind ExxonMobil’s latest layoffs?

Another wave of job cuts has hit Oil & Gas. After bp, Chevron, and  ConocoPhillips earlier this year, ExxonMobil announced ~2,500 layoffs last week. 👉 Regional offices in Calgary, Brussels, and Singapore are being shut down. Retained employees must relocate closer to industrial sites.

📰 The media wasted no time pointing fingers:

• Europe blamed regulatory complexity.

• Canada pointed to policy uncertainty and an unfriendly business climate.

• Singapore stood apart — the coverage there focused on competitiveness, not politics, reflecting the city-state’s pro-efficiency culture.

📊 But here’s the real story: ExxonMobil — like the entire industry — has been on a relentless efficiency drive. Over the past 5 years, # employees per barrel produced have dropped sharply (see BIC Advisory Group chart 👇 ), powered by:

✔️ Capital discipline

✔️ Fewer attractive exploration opportunities & focus on larger basins

✔️ Automation & digital tools

Consolidating offices into a global hub isn’t just cost-cutting. It’s about setting up for the next decade of productivity gains.

💔 Yet behind the numbers are people. They are the ones who bear the brunt. Many of those affected are friends and former colleagues — and I want to express my deepest sympathy to them.

✨ But here’s the silver lining:

This restructuring is releasing an extraordinary pool of top-tier talent into the market — professionals forged in one of the most demanding and disciplined organizations in the energy world. They represent the industry’s true gold standard: shaped by a deep safety culture, disciplined execution, and a relentless focus on operational excellence. These individuals know what world-class performance looks like — and how to deliver it.

🚀 For any company looking to strengthen its bench, this is your chance! The opportunity to bring in outstanding talent is here!