Exxon Mobil Corp. is planning to consolidate its North American research and technology operations into a single hub located at its headquarters in Houston, resulting in the closure of campuses in Clinton, New Jersey, and Sarnia in Ontario. The closures will impact about 700 employees, with the majority of them being offered roles in Houston.
The decision to consolidate the research and technology hubs is aimed at enhancing the company’s ability to develop and commercialize cutting-edge technology more effectively. According to Exxon spokeswoman Emily Mir, this move will help expand research capabilities and provide a solid foundation for future growth.
Over the past four years, Exxon has been focused on streamlining its operations by consolidating business divisions, divesting assets, and reducing its workforce as part of a cost-cutting plan to save $15 billion by 2027 compared to 2019. The company has made significant progress towards achieving this target and aims to further optimize its operations through this consolidation.
Exxon Mobil Research and Engineering division was based in the Clinton campus which played a key role in climate research during the 1970s and 1980s. It also instrumental in developing many of oil giant’s patented products over the years. With this consolidation of research and technology hubs, Exxon will align its resources more effectively and drive innovation in the energy sector.
This move comes as part of Exxon’s ongoing efforts to adapt to changing market conditions and remain competitive in the global energy industry.
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