Exxon prepares to make job cuts across US offices
The oil giant is preparing to slash jobs domestically, according to Bloomberg.
I think the oil market is a sign of what's to come for most companies. There's a big shift underway to prioritizing free cash flow and shareholder returns. The market doesn't reward investment and future cash flows.
That's a bit of a depressionary mindset but I think that's certainly coming to oil companies and I think it's coming elsewhere, at least at the margins.