Exxon Mobil Corp said that it expects to reduce the number of employees in Singapore from 10 to 15 percent and relocate its office to its Jurong facility by the end 2027 as part of global restructuring efforts.

Exxon announced plans to expand its Singapore operations after the U.S. company announced that it would lay off about 2,000 employees globally, primarily in Canada and the European Union. This is part of a longer-term restructuring program which will affect between 3% and 4% of Exxon's total workforce.

Exxon Singapore stated in an email that it was reshaping and restructuring the office-based organization.

It said: "While planning is ongoing and the organizational design has not been completed, we expect this to result in an estimated reduction of employee redundancies between 10%-15% by 2027."

Exxon has approximately 3,500 workers in Singapore. The expected cuts may affect up to 500 employees, but the company refused to provide a specific number.

The company has said that it will maintain its manufacturing presence within the city state. It started production this month at its Singapore refinery to produce base stock from residue fuel.

Exxon has two refineries in Singapore. One is located on Pioneer Road, on the mainland, and the other one on Jurong island. The combined capacity for crude oil processing at both sites is 592,000 barrels a day.

Exxon said that as part of this change, the company plans to relocate employees from its Harbour Front offices at the Jurong Refinery on Pioneer Road to new, expanded facilities at the Jurong Refinery by the end of 2027. (Reporting and writing by Trixie Yap, Florence Tan; editing by Clarence Fernandez & Tom Hogue).

(source: Reuters)