02:02 PM EDT, 03/26/2025 (MT Newswires) -- Exxon Mobil ( XOM ) said Wednesday it plans to lay off about 250 UK employees by the end of 2026 as part of a business reorganization.

The energy company said it will centralize most employees at its Fawley Petrochemical Complex, merging the Leatherhead and Surrey offices to boost collaboration.

Exxon added that despite the layoffs, it will continue to invest in the UK, including growing its London trading hub and revitalizing the Fawley Complex.

Shares of Exxon Mobil ( XOM ) were up more than 1% in recent trading activity.

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