Marathon Petroleum Took Billions in Bailouts, Then Laid Off Nearly 2,000 Workers

By Climate Nexus

21 June 21

arathon Petroleum laid off nearly 2,000 workers across the U.S. despite taking more than $2 billion in federal tax bailouts meant to soften the blow of the pandemic, a new report from BailoutWatch says.

The company spent millions on lobbying, including on specific provisions in the Cares Act. "Executives receiving this bailout did nothing to address the [oil and gas] industry's fundamental unsustainability. Instead, these companies decimated their workforce with layoffs while maximizing profits for executives and shareholders," Jesse Coleman, a senior researcher at Documented Investigations, told The Guardian.

According to BailoutWatch:

Marathon Petroleum laid off 1,920 workers, about 9% of its workforce, after receiving tax breaks totalling $2.1 billion — about $1.1 million for every job eliminated. Devon Energy laid 22% of its staff, after receiving a $143 million tax windfall — $357,500 for each worker laid off. National Oilwell Varco also slashed payrolls by 22% after receiving a $591 million tax benefit. And Occidental Petroleum eliminated 2,600 jobs, 18% of its 2019 workforce, and collected a $195 million tax bailout — $75,000 in free money per job eliminated.