ExxonMobil's global layoffs affect Singapore, with a possible 15% staff reduction by the end of 2027.

Jin10 Data reported on October 1st that ExxonMobil stated in a release that its planned global layoff program will affect 15% of its total workforce in Singapore by the end of 2027. Previously, it was reported that the oil giant would lay off about 500 employees in Singapore; this layoff is part of its global plan to cut 2,000 jobs, with the background being that ExxonMobil is consolidating smaller offices into regional hubs. This move is part of the company's long-term restructuring plan. A spokesperson for the American company in Singapore stated, “Although detailed planning is still ongoing and the organizational structure design has not been completed, we expect that by the end of 2027, the percentage of employee layoffs will reach 10%-15%.” ExxonMobil currently has about 3,500 employees in Singapore, and the company also noted that it will continue to maintain its business presence in this Southeast Asian financial center. Recently, ExxonMobil added a new refining facility on Jurong Island in Singapore, which can upgrade the so-called “residual oil” into high-value-added products.