Oil giant Exxon Mobil is preparing to cut thousands of jobs worldwide in a corporate reshuffling.

A spokesperson for Exxon confirmed to Barron’s on Tuesday that the company plans to cut 2,000 jobs, representing 3% to 4% of the energy company’s global workforce.

The news was first reported by Bloomberg, which said that Exxon sent a memo to employees noting the company is consolidating smaller offices into regional hubs as part of a long-term restructuring plan.

"Our global office network was established decades ago under very different circumstances," Exxon said in a statement to Barron’s. "To support the collaboration so critical to our success, we are aligning our global footprint with our operating model and bringing our teams together."

Exxon did not immediately respond to Fox N

See Full Page