Imperial Oil to Sell Calgary Headquarters Amid Restructuring

**Imperial Oil to Sell Calgary Headquarters Amid Restructuring** Imperial Oil Ltd. is set to sell its head office complex in Calgary as part of a major restructuring effort. The company plans to cut approximately 900 jobs, primarily in Calgary, and shift most of its operations outside the city. An Imperial spokesperson confirmed that the company has reached a tentative agreement to sell its corporate office complex located in southeast Calgary. The firm will also lease some of the space as it reduces its workforce. Currently, the expansive campus consists of five low-rise buildings with around 800,000 square feet of office space, which can accommodate up to 3,000 employees. However, the company has already consolidated its operations into fewer buildings, leaving only about 1,100 workers at the campus. This decision is part of a broader global restructuring initiated by Exxon Mobil Corp., Imperial's majority owner. Exxon is also reducing its office footprint and plans to cut three to four percent of its workforce to enhance efficiency and reduce costs. Calgary, known as the hub of Canada’s oil industry, currently has the highest office vacancy rate in the country at 20 percent. This situation has persisted since an oil price downturn in 2014 led to many empty downtown buildings. In an internal memo from 2012, Imperial had expressed optimism about its Calgary office campus, stating it would be “our company home for many decades.” At that time, the company anticipated moving staff from various locations to the new complex in Quarry Park starting in 2014. The memo highlighted the design of the space to meet the needs of both current and future employees. However, a recent internal document dated September 29 indicates a significant shift in the company’s circumstances. It noted that Imperial has experienced a “surplus of Calgary office space” for several years and has been “evaluating options for the campus.” The document, which was shared on an intranet FAQ page regarding the consolidation plans, stated that Imperial intends to maintain a small presence in Calgary, primarily as an advocacy office. Some positions will be relocated to Houston, while approximately 360 roles may move to Exxon’s global business and technology centers in countries such as India, Argentina, Thailand, or Brazil. Other employees will be transferred to Imperial’s Strathcona refinery in Edmonton, aligning with the company’s strategy of having most staff located near operational sites. The internal document emphasized the benefits of consolidating staff, stating, “By having more of our people working together at the same location, we provide greater career opportunities and easier access to development.”