Written Answer to PQ on ExxonMobil retrenchment and petrochemical industry outlook
NOTICE PAPER NO. 219 OF 2025 FOR THE SITTING ON 6 NOVEMBER 2025
QUESTION NO. 789 FOR ORAL ANSWER
MP: Mr Dennis Tan Lip Fong
To ask the Minister for Manpower (a) whether the Government projects further layoffs in the petrochemical industries following the announcement by a US energy company of its plans to retrench up to 500 staff in Singapore by end-2027; and (b) if so, whether the Government is extending support to these companies or to affected workers directly in the transition to a low-carbon future.
Answer:
1. The member may be referring to ExxonMobil’s restructuring announcement on 1 Oct 2025, where the company said that it would be retrenching up to 500 workers in Singapore by end-2027.
2. The Energy and Chemicals (E&C) sector is a global industry, and Singapore is subject to global developments in demand and supply. With any mature industry in transition, we also expect to see some churn as companies transform their operations. However, there will be opportunities for reinvestment and renewal. For example, as we transition to a low-carbon future, there will be new job opportunities for locals in growth areas such as specialty chemicals and bio-chemicals. Since 2021, there were over 30 new specialty chemical projects across manufacturing and R&D from global companies such as Arkema, Cariflex and Kuraray. When fully realised, these investments are expected to create more than 1,000 jobs, across roles in manufacturing operations, R&D and innovation, process engineering, sustainability, and corporate functions.
3. Should retrenchments occur, the Government’s priority is to support affected workers with employment facilitation. The Taskforce for Responsible Retrenchment and Employment Facilitation, comprising representatives from MOM, WSG, NTUC, NTUC’s e2i, EDB, and ESG, proactively reaches out to retrenching companies once notified of a retrenchment. For ExxonMobil, the Taskforce has offered career matching services and referrals to career switch programmes if workers wish to move into other growth areas. These include the Career Conversion Programmes and Mid-Career Pathways Programme. We understand that ExxonMobil has also proactively engaged the ExxonMobil Singapore Employees’ Union and is committed to working closely with them to support affected workers throughout the restructuring process.
4. The SkillsFuture Jobseeker Support scheme will also provide temporary financial support of up to $6,000 over six months to eligible retrenched individuals to support them in finding a job that makes better use of their skills and experience. The Government will continue to work closely with companies to support workers in the transition to a low-carbon future.