Marathon Oil Corp

United States
marathonoil.com
Energy

Layoff Date:

February 11, 2021

Laid Off Employees:

100

Laid Off Percent:

5

Source: Reuters
Marathon Oil Corp has laid off around 100 U.S. employees, or about 5% of its total workforce, a company spokeswoman told Reuters on Thursday, days after the oil and gas producer cut salaries for top executives and board members. Although oil prices have raced back above the pre-pandemic level of $60 per barrel in recent months, producers are focusing on improving balance sheets instead of raising output, as demand forecasts hinge on vaccine rollouts.
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