Paris, July 04: US oil major Exxonmobil plans to cut 1,537 jobs in Europe and regroup European management into a single site in a country with lower social costs, like the Czech Republic or Hungary, the French union CGT said today. Exxonmobil presented a "fundamental change in the company's organisation" to its business panel last week that will include a "first wave of 1,537 post eliminations in Europe, including 291 in France", the union said in a statement. The aim of the restructuring "is to centralise in the next 30 months all of the managements into a single European center which will be based in a country with reduced social costs -- the Czech Republic or Hungary", it said. The new headquarters would be responsible for all the company's European units, it said.
The management of Exxonmobil was not immediately available to comment on the union statement.

Bureau Report