ExxonMobil announced that it would defer the employer match to retirement savings plans starting from October 2020, according to Reuters.

The company referred this decision to the current business environment which pushed it to reduce the costs. “The company intends to suspend the company match contribution to US Exxon Mobil Savings Plan for all employees covered by the Savings Plan, effective around Oct. 1, 2020,” the company said in a message to the employees.