Houston Chronicle (5/27/2020)

Exxon Mobil, one of the largest employers in the Houston area, said Wednesday it has no immediate plans to lay off workers in response to the coronavirus-driven oil bust. The Irving-based oil and gas producer plans to cut operating expenses by 15 percent this year after oil prices plunged along with demand for petroleum products during the global pandemic. However, CEO Darren Woods told shareholders at the company’s annual meeting Wednesday that those cost reductions do not include any layoffs of Exxon employees. The oil major employs nearly 16,000 employees locally, according to a Houston Chronicle survey.