Posted by: Market Watch in Market Information 28 minutes in the past Marathon Petroleum Corp. mentioned late Wednesday it'll lay off greate
Marathon Petroleum Corp. mentioned late Wednesday it’ll lay off greater than 2,000 staff because it seems to be to chop prices amid much less demand for gasoline and different oil derivatives with the continuing pandemic. The layoffs and the “indefinite” idling of the corporate’s refineries in Martinez, Calif., and Gallup, New Mexico, will have an effect on about 2,050 staff, the corporate mentioned. The layoffs and the open positions that the corporate determined to maintain unfilled signify about 12% of its workforce, Marathon Petroleum mentioned. Most staff will likely be notified on Thursday, Marathon mentioned. The plan will end in severance fees between $125 million and $175 million within the third quarter, Marathon mentioned. Shares of Marathon Petroleum had been flat within the prolonged session Wednesday after ending the common buying and selling day down 0.3%.Market Pulse Tales are Fast-fire, brief information bursts on shares and markets as they transfer. Go to MarketWatch.com for extra data on this information.
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