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Exxon to cut U.S. workforce by up to 10% annually - Bloomberg News

June 21 (Reuters) - Top U.S. oil producer Exxon Mobil Corp is preparing to cut its U.S. office workforce by between 5% and 10% every year for the next three to five years, Bloomberg News reported on Monday citing people familiar with the matter.

The job cuts will target the lowest-rated employees relative to peers as part of a performance assessment program and will therefore not be classified as layoffs, the report here said.

Reporting by Shariq Khan in Bengaluru

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