As a result of the unprecedented effects of the novel coronavirus on the industry, ExxonMobil has announced that its Singapore office is anticipated to see a 7 percent cut in its workforce of more than 4000 employees by year-end. This is equivalent to 300 positions being impacted.
The U.S oil major noted that the pandemic has certainly accelerated ongoing reorganization and work-process changes which it noted are geared towards improving the company’s long-term cost competitiveness and ability to manage through near-term challenges.
Geraldine Chin, Chairman and Managing Director of ExxonMobil Asia Pacific Ltd. noted that while the decision is a most difficult one, it is a necessary step to improve the company’s competitiveness and strengthen the foundation of its business for future success. The ExxonMobil official said, “We are providing transitional support to our colleagues who are impacted and are focused on getting through this challenging time.”
In spite of the job cuts, the ExxonMobil Managing Director said that Singapore continues to be a strategic location for the company with a world-scale manufacturing complex and a talented workforce. The company said too that it remains committed to providing energy and products that are essential for society, while managing operations safely and responsibly, including reducing the risks of climate change.