Exxon Mobil Corp. has announced plans to consolidate its North American research and technology operations into a single hub at its Houston headquarters. This move will result in the closure of campuses in Clinton, New Jersey, and Sarnia in Ontario. The closures will impact approximately 700 employees, with the majority of them being offered roles in Houston. The transition is set to be completed in phases and is expected to be fully enacted by 2028.
The consolidation of Exxon’s research and technology operations is aimed at bringing together its North American technology organizations with its business lines in order to more effectively develop and commercialize industry-leading technology. This move is expected to expand the company’s research capabilities and set a foundation for future growth. Exxon has been working on streamlining its business divisions over the past four years, shedding 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 goal, currently two-thirds of the way there.
Exxon Mobil Research and Engineering division was located at the Clinton campus which housed many of the oil giant’s patented products over the years. It also played a significant role in climate research during the 1970s and 1980s. Exxon’s decision to consolidate its research and technology operations reflects its strategic effort to optimize its operations, improve efficiency, and drive innovation. The company believes that by bringing together its North American technology organizations with its business lines it will be better equipped to develop new technologies that will help it remain competitive in an ever-changing energy landscape.
