The company revealed that it plans to trim its Singapore headcount by about 10% to 15%, which could translate to around 500 positions out of a workforce of 3,500. While Exxon has not disclosed exact figures, two sources familiar with the matter said affected employees will be informed by December.
The decision comes a day after Exxon announced it would cut 2,000 jobs globally—primarily across Canada and the European Union—equivalent to roughly 3% to 4% of its worldwide staff. According to the company, these measures are aimed at simplifying its structure, improving competitiveness, and positioning the business for long-term growth.
“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,” ExxonMobil Singapore said in an emailed statement. The restructuring, the company added, will reshape its largely office-based organisation.
In Singapore, the move is not just about job cuts but also about location consolidation. Exxon intends to relocate staff from its HarbourFront office to expanded facilities at its Jurong refinery complex on Pioneer Road by 2027. The shift is expected to integrate administrative and operational functions more closely with the company’s manufacturing base.
Despite the downsizing, Exxon stressed that it will maintain a significant presence in Singapore, particularly in manufacturing and trading. The company recently began production at new units within its Singapore refinery complex to produce base stocks from residue fuel, reinforcing its continued investment in the city-state.
The oil major operates two refining facilities in Singapore—one on Jurong Island and another on the mainland—with a combined crude processing capacity of 592,000 barrels per day, making it one of the country’s largest industrial players.
Singapore’s Economic Development Board (EDB) acknowledged the impact of the restructuring but emphasized Exxon’s ongoing role in the local economy. “We will work closely with the company to support affected employees,” the agency said in a statement, noting that ExxonMobil remains committed to keeping a strong footprint in Singapore’s energy and industrial landscape.
The cuts highlight the broader pressures faced by energy companies worldwide as they adjust to volatile markets, shifting demand patterns, and the push toward a lower-carbon future. For ExxonMobil, the changes mark another step in its bid to balance global competitiveness with local commitments.