12:28 PM EDT, 05/07/2024 (MT Newswires) -- Exxon Mobil ( XOM ) plans to set up a single North American research and technology hub at its Houston headquarters and close campuses in Clinton, New Jersey, and Sarnia in Ontario, Bloomberg reported Tuesday, citing a company spokeswoman.

The majority of 700 workers affected by the closures are being offered roles in Houston, spokeswoman Emily Mir said, Bloomberg reported.

The moves will be in phases and be completed by 2028, the report said.

Exxon did not immediately respond to a request for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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