6 days ago
- Business
- Wall Street Journal
Mexico's Pemex to Trim Costs With Restructuring-Related Job Cuts
MEXICO CITY–Mexican state-owned oil company Petroleos Mexicanos said it expects to save around $185 million in administrative costs this year with layoffs of non-union staff as part of the company's restructuring into a vertically integrated company following changes in Mexican laws.
The restructuring aims to eliminate duplicate functions and positions in areas such as marketing, planning, and contracting services, while channeling more resources to operating activities, Pemex said Wednesday.
