Marathon cuts nearly 300 jobs in Findlay
FINDLAY, Ohio (WTVG) - Nearly 300 jobs have been cut in Findlay at Marathon Petroleum Corp., part of 2,050 jobs cut companywide. The company said it amounts to a 12 percent reduction in its workforce.
The company reported the cuts Wednesday as a result of reduced fuel consumption during the COVID-19 pandemic.
In August, the company reported a net income of $9 million, or $0.01 per diluted share, as opposed to $1.1 million, or $1.66 per diluted share, in the second quarter of 2019.
In a statement sent out Thursday morning, a spokesperson said, “Over the last several months, we have communicated to our employees the actions we have been taking to better position Marathon Petroleum for short- and long-term success. This process has involved analyzing and prioritizing critical activities, centralizing functions and redesigning organizations to support our prioritized activities. As part of this process, and recognizing the impacts of the COVID-19 pandemic on our business operations and financial position, we have had to make very difficult decisions, including reducing staff levels in some areas. These decisions have not been made lightly, and we are committed to treating our employees with integrity and respect.”
Employees affected by the cuts received severance pay, and those who are enrolled in the Marathon medical, dental, and vision plans will have the option of continuing their coverage at active employee rates for six months, followed by 18 months at COBRA rates. Affected employees also can receive assistance with a job search and resume writing or reimbursement for tuition, certification, or licensing fees of up to $1,500.
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