ExxonMobil will eliminate 2,000 jobs worldwide, or about 3% of its workforce, in its latest move to streamline operations and reduce costs as oil prices remain subdued, The Wall Street Journal writes. The cuts, which include major reductions at Canada’s Imperial Oil, extend a yearslong trend of consolidation and workforce thinning across the oil industry. The industry has shed nearly 80,000 U.S. jobs since 2015, even as oil output climbed 45% thanks to new drilling technologies that allow companies to pump more with fewer people. Analysts say Big Oil is leaner and more efficient than in past downturns, but service providers warn that fewer jobs and tighter budgets are rippling across the energy ecosystem. Exxon emphasized the changes are aimed at “driving innovation” by consolidating offices and aligning global teams.