US energy company ExxonMobil announced plans to reduce staffing levels at the company鈥檚 Singapore affiliates, the company announced in a statement on Wednesday
The move, 鈥渁s part of its ongoing effort to improve and sustain long-term competitiveness,鈥� came after the company decided to cut up to 1,600 jobs at its European affiliates and 1,900 at US affiliates in October to mitigate the negative impact of the novel coronavirus (COVID-19) on weak global oil demand and low oil prices.
The company said the plan would impact 300 positions by the end of 2021, representing approximately 7% of the company鈥檚 more than 4,000 employees in Singapore.
鈥淯nprecedented market conditions resulting from the Covid-19 pandemic accelerated ongoing reorganization and work-process changes that will improve the company鈥檚 long-term cost competitiveness and ability to manage through near-term challenges,鈥� it said.
Geraldine Chin, chair and managing director of ExxonMobil Asia Pacific, said the move was difficult but necessary to improve the company鈥檚 competitiveness and strengthen its business foundation for future success.
By Sibel Morrow
Anadolu Agency
energy@aa.com.tr