Exxon Mobil plans to cut US headcount by 5-10% annually for 3 years

Exxon Mobil is preparing to reduce headcount at its US offices by between 5 per cent and 10 per cent annually for the next three to five years by using its performance-evaluation system to suss out low performers, according to people familiar with the matter.

The cuts will target the lowest-rated employees relative to peers, and for that reason will not be characterized as layoffs, the people said, asking not to be identified because the information isn’t public. 

While such workers are typically put on a so-called performance improvement plan, many are expected to eventually leave on their own.