ExxonMobil to cut 2,000 jobs globally, with Singapore operations among those affected

Exxon Mobil Corporation is preparing to cut roughly 2,000 positions worldwide as part of a sweeping restructuring effort, representing about 3% to 4% of its global workforce. The move comes amid a broader industry downturn, with energy majors tightening budgets as rising OPEC+ output pressures global crude prices and erodes profit margins.

In Southeast Asia, ExxonMobil’s Singapore operations are expected to bear a notable portion of the cuts, with between 10% and 15% of its local workforce set to be laid off. The company also plans to relocate its corporate offices from the city centre to its Jurong industrial site by the end of 2027. Employees were reportedly informed that layoffs would be completed by December, according to sources familiar with the matter.

Management has yet to determine which positions will be made redundant or transferred offshore, including potential relocations to India. The announcement, however, did not come as a surprise to staff, given that workforce reductions have already begun across ExxonMobil’s global operations.

ExxonMobil currently employs about 3,500 people in Singapore, implying that up to 500 workers could be affected by the downsizing. The company declined to confirm specific figures.

Elsewhere, Imperial Oil — ExxonMobil’s majority-owned subsidiary in Canada — also announced plans to reduce its workforce by 20% by 2027, in alignment with the parent company’s streamlining efforts.

Market talks indicated that ExxonMobil is considering shutting one of its cracking units at the Singapore chemical complex in early 2026 as part of a broader operational overhaul. The company currently operates two steam crackers on Jurong Island, with a combined ethylene capacity of 1.9 million tons per year. However, details regarding the planned shutdown—including the specific unit and timeline—remain unconfirmed at the time of reporting.

CommoPlast has not independently verified the reported shutdown plans.

Written: Farid Muzaffar