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 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. The company 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 has been working on optimizing its operations, improving efficiency, and driving innovation for many years now. This move is expected to expand the company’s research capabilities and set a foundation for future growth. The Clinton campus, which housed the Exxon Mobil Research and Engineering division, was responsible for developing 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 bring together all of its North American operations under one roof in order to drive innovation and improve efficiency across all aspects of the business. With this consolidation comes new opportunities for employees to work alongside some of the most innovative minds in industry leading technology development.
