Exxon Mobil (XOM) is embarking on a reorganization.
The multinational oil conglomerate is working on a plan that will reorganize the company to integrate the downstream refining and fuels and lubricants divisions further, an Exxon spokeswoman told TheStreet.
The moves will not impact the organization of the chemical company.
"We are further integrating our downstream businesses to improve decision making and enhance performance in the market," the spokeswoman confirmed. "The improvements will help us to serve our customers and compete more effectively, while continuing to leverage our global scale and the benefits of being a fully integrated oil, gas and petrochemical company."
Shares of Exxon were lower during mid-morning trading on Monday.
Exxon has been in communication with its employees regarding the restructuring, and the feedback has been "supportive."
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