About 300 employees of ExxonMobil in Singapore will be asked to leave, as part of a major reorganisation exercise. The American oil and gas corporation has its largest refinery in Singapore, but the pandemic has forced it to resort to downsizing in order to improve competitiveness and ensure stability.
In October 2020, the multinational had revealed its intention to reduce its global employee base by 15 per cent by the end of 2022. It has already put hiring in check and will now work on targeted redundancy programmes and attrition to implement the job cuts.
The impacted staff will be sent an official notification in the second week of March. The last working day for these employees will be April 30, 2021.
In Singapore, ExxonMobil has over 4,000 employees, whereas its refine boasts of a capacity of about 592,000 barrels a day. The multination will be giving “transitional support” to the affected staff and help them through these difficult times, by offering outplacement services, as well as counselling.
The Singapore Economic Development Board (EDB) has also assured its cooperation in helping place the affected staff.
Singapore will remain one of ExxonMobil’s most important locations, where it has its biggest state-of-the-art manufacturing complex and a very capable workforce.
Very recently, the Company announced the addition of Michael Angelakis and Jeffrey Ubben to its board of directors.