Exxon Traders Rejecting London Move Face Job Cuts, Unions Say
- Oil giant wants Brussels traders to relocate to the UK
- Protests planned outside Exxon’s Belgium office Tuesday
The move is part of a major expansion in trading for the oil company.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Some traders working for Exxon Mobil Corp. are set to lose their jobs because they don’t want to move from Brussels to London, according to a statement from its unions.
The majority of Brussels-based trading staff at the oil giant said in an internal union-led survey that they won’t move to the British capital because of “uncompetitive” pay and a “lack of flexibility,” according to a joint statement from the unions. As many as 37 trading employees will get fired as a result, it added.