ExxonMobil to cut up to 500 Jobs in S'pore by end-2027

ExxonMobil plans to slash jobs in Singapore by 10 to 15 per cent and move its city office to its Jurong plant by the end of 2027, the firm said in an email statement.

While no figures were stated, up to 500 workers could be affected by the upcoming cuts as the company employs about 3,500 people in Singapore.

This move comes as part of the company’s global job cuts after the U.S. company announced on Sep. 30 that they planned to lay off 2,000 workers globally, reported Reuters.

About half of the cuts will be focused on Europe and the rest in Canada, as part of a long-term restructuring plan that will affect about 3 to 4 per cent of its workforce.

There are no planned job cuts in the U.S., according to a company spokesperson, reported Reuters.

ExxonMobil move

“We are making changes to how we work so we can improve our competitiveness in an ever-evolving landscape and position the business for future success,” a spokesperson for ExxonMobil said.

"We will provide the necessary support to our people," it was added.

The spokesperson added that the company’s goal is “to move HarbourFront-based employees to the Jurong Refinery-Pioneer Road in new expanded facilities by year-end 2027”.

It was added:

“We’ve seen the value of bringing people together in the same location. These changes are designed to improve our competitiveness, increase effectiveness, and drive innovation.”

Continued investment in Singapore

This decision comes even as Exxon ramps up production capacity in the city-state.

The company began operating its new refinery complex in Jurong Island this month to convert residue fuels into higher-value base stocks, reported Bloomberg.

This continues to underscore its long-term commitment to Singapore as a regional hub.

Currently, Exxon operates two refining sites in the country — one on Jurong Island and another at Pioneer Road — with a combined crude processing capacity of 592,000 barrels per day, according to The Business Times.

This also makes Singapore one of its largest integrated manufacturing bases globally.

Authorities’ response

Singapore’s Economic Development Board (EDB) said in an email that it will work with Workforce Singapore (WSG) and the NTUC Employment and Employability Institute (e2i) to support affected workers, including through job placement programmes.

“ExxonMobil will continue to maintain a significant business footprint here, including in manufacturing, headquarter and trading functions,” EDB said.

Top images via Carbon Credits