Thread regarding ExxonMobil Corp. layoffs

@20y stop spamming the same post on every thread!

Imperial Oil restructuring announcement : Calgary exit, Edmonton hub, JVs & logistics shift

XOM and Imperial Oil decide to divest Calgary-based non-core assets and restructure to stay competitive in a shifting regional and global energy market:

1- Calgary Quarry Park HQ: Sold to Brookfield, monetizing underutilized space. This mirrors Imperial’s real move to donate its former research centre and labs to SAIT, reinforcing a Calgary real estate pullback.

2- Corporate functions: Relocated to Edmonton, aligning headquarters with upstream operations.

3- Employee impact: Calgary staff offered relocation to operational or refinery sites, redeployment packages, or voluntary exits.

4- Cold Lake & Kearl: Continue to run as profitable oil sands assets, with upgrader units ensuring bitumen flows meet refinery specs. Over time, Imperial phases in project-level JVs with partners like Suncor and Cenovus on select expansions — sharing cost, technology, and risk without ceding full control.

5- Logistics & infrastructure (Midstream segment): Throughput and tariff agreements renegotiated with Enbridge and TC Energy, leveraging planned Mainline expansions and ~$2.5B Enbridge system upgrades. Rail partnerships with CN and CPKC improve flexibility to U.S. Gulf and Midwest markets.

6- Downstream operations:
Strathcona refinery (Edmonton) remains a central hub, now with renewable diesel capacity.

Sarnia refinery & chemical complex anchors the eastern market.
Nanticoke refinery complements Sarnia, strengthening Imperial’s Ontario downstream footprint.

Staff relocations tied into these downstream assets keep talent aligned with refining/chemical demand centers.

Whoever said this should have a chilled one today

sale of Quarry Park with employees moved to Edmonton
sale of Quarry Park with Employees moved to Edmonton/Sarnia (US/DS)

Well, it is 10 am in Houston, 9 am in Calgary, and 5 pm in Brussels. Has the other shoe dropped yet?

Houston executives rolling into Europe over the weekend. More cuts needed to meet structural savings goals

@aa what are you talking about? Cite your sources please.

Major announcements planned for next week in EU. Layoffs and plant closures are expected. Good luck to you all

Heard it here first: Enbridge and IOL merger; significant layoffs from non-operational redundancies; shuffling of Calgary + other regional offices

@16c IOL has suspended all relocations so that is an indication that there will be a significant impact there.
Have it on good authority that IOL will have some announcement on the 29th. What is still anyone's guess (closure of QP and/or sale of IOL seem most likely)
Whether that coincides with other announcements in Europe I cannot say.

Any new news?

Ok, you caught me. I’ve been posting these things are seeing who bites. It’s all false. Just go back to work and increase the stock price. :)

@b3 lol so funny isn't it. People just kept confirming the stuff that they heard from trolls on this site, and there are now so many different guesses, it's rather comic! For all we know, there's just 1 big troll having conversations with himself and the rest of us curiously wasting our time here.

The announcement doesn’t add up, when has the kind EM ever announced a date that something is coming?

DW is retiring. Board agrees to give him a million share bonus for lifetime achievements. NC is named new CEO.

Doubt it’ll be a fawley sale just yet given the ongoing restructure and relocation. Can definitely see it being related to Fife and other European chemical assets

@bm you do realize the high share price is based on Imperial Oil buying back almost 40% of the float? Outstanding shares have dropped from almost 900 million to just over 500million. So if the stock price went up 40% in that duration you can call that a 0% change to the total market capitalization. Also, you think IOL would make such moves without direct orders from Uncle Sam? How naive are people on this forum?

Exxon would never dump imperial - it’s a cash generation machine for them. They could potentially buyout the remainder in a reorg effort merging roles. I suspect there would more more mid/upper management role eliminations vs lower down but that’s just a guess.

I heard Xom is dumping IOL given the high share price.

The list is missing significant layoffs of IOL employees to facilitate a move to another location.

Anything I’ve heard from folks in the office has been a regurgitation of rumors from this website. Let’s stop with the nonsense. If anyone knows something for sure, please state it with that qualifier. Otherwise, just wait till October. Whatever is gonna happen has already been decided - you’ll find out soon enough. What’s the point of furthering pointless rumors that have no solid backing??

@ak I've rumblings of what would essentially be a building swap with Enbridge in Edmonton

Sell Spring campus, move EMHQ to Kearl

Some degree of certainty on this one

• sale of Quarry Park with employees moved downtown Calgary

@ae oh don't worry regardless what happens you will be told how it is good for you.

Any good rumors?

@aa no they haven't lol

The first four have been publicly announced

sale/closure of Fife
sale/closure of Fawley
sale/closure of Chem plants on European Continent
upstream layoffs in Germany

Good summary, covers off all that I've heard