LOS ANGELES (CNN) -- The merger of Exxon and Mobil comes amid a worldwide oil glut that has pushed prices to their lowest levels in more than 12 years. The marriage of the two oil giants will likely mean massive layoffs within those companies. But industry analysts say consumers can breathe easy -- less competition will not cause higher prices at the gasoline pump.

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What does the merger mean to employees and consumers? CNN's Jennifer Auther reports.
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