Exxon to move technical center to Houston and close New Jersey campus

(Bloomberg) — Exxon Mobil Corp. plans to establish a single North American research and technology hub at its Houston headquarters, which will result in the closure of campuses in Clinton, New Jersey, and Sarnia, Ontario.

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The closures will affect about 700 employees, with the majority being offered positions in Houston, Exxon spokeswoman Emily Mir said. The changes will come in stages and will be fully implemented by 2028.

“We are excited to have our North American technology organizations located within our lines of business to more effectively develop and commercialize industry-leading technology,” Mir said. “This move will expand our research capabilities and lay the foundation for long-term growth. »

Exxon has spent the past four years streamlining a host of business divisions, shedding assets and reducing its workforce as part of a plan to cut costs by $15 billion by 2027 compared to 2019. He is currently two-thirds of the way to achieving this goal.

The company’s Clinton campus was once home to Exxon Mobil’s research and engineering division, responsible for most of the oil giant’s patented products for several decades. She also played a leading role in climate research in the 1970s and 1980s.

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