Oil and Gas industry sees further cuts as US oil and gas company ExxonMobil announced it would slash 1,600 jobs in Europe, more than 11% of its workforce in the region, as it struggles with the hit from the coronavirus downturn. “The impact of Covid-19 on the demand for ExxonMobil’s products has increased the urgency of the ongoing efficiency work,” the Texas-based company said in a statement. The company said the job cuts would happen by the end of next year.