Expected Layoffs in Petrochemical Industries following Retrenchment by US Energy Company of 500 Staff in Singapore
Ministry of ManpowerSpeakers
Summary
This question concerns inquiries by Mr Dennis Tan Lip Fong regarding projected petrochemical industry layoffs following ExxonMobil’s restructuring and the support available for workers during the transition to a low-carbon future. Minister Dr Tan See Leng explained that while industry evolution causes churn, investments in specialty chemicals are projected to create over 1,000 new jobs in research and manufacturing. The Taskforce for Responsible Retrenchment and Employment Facilitation provides career matching and referrals to Career Conversion and Mid-Career Pathways Programmes to assist affected staff. Additionally, the SkillsFuture Jobseeker Support scheme offers up to $6,000 in temporary financial aid to eligible individuals to support them in finding new employment. Minister Dr Tan See Leng emphasized that the government and companies are working closely with unions to support the workforce through these structural changes.
Transcript
60 Mr Dennis Tan Lip Fong asked 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.
Dr Tan See Leng: The Member may be referring to ExxonMobil's restructuring announcement on 1 October 2025, where the company said that it would be retrenching up to 500 workers in Singapore by end-2027.
The Energy and Chemicals 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 re-investment 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 research and development (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.
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 the Ministry of Manpower, Workforce Singapore, the National Trades Union Congress (NTUC), NTUC's Employment and Employability Institute, Economic Development Board and Enterprise Singapore, 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.
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.