13 Safest Stocks to Invest in Now

5. Exxon Mobil Corporation (NYSE:XOM)

Return On Equity: 11.83%

Number of Hedge Fund Holders: 88

Exxon Mobil Corporation (NYSE:XOM) is one of the 13 Safest Stocks to Invest in Now, supported by hedge fund interest and significant return on equity.

Reuters reported that Exxon Mobil Corporation (NYSE:XOM) has recently announced that it would cut 10% of its Singaporean personnel by the end of 2027. The action is a part of a larger restructuring that will result in 2,000 job losses worldwide, mostly in Canada and the EU, impacting roughly 3% to 4% of the Exxon Mobil Corporation (NYSE:XOM)’s staff.

Ultimately, the layoffs may affect about 500 jobs at Exxon Mobil Corporation (NYSE:XOM), which employs about 3,500 people in Singapore. Additionally, the company plans to move employees from its Harbour Front Offices to the newly expanded Jurong refinery.

Although final organizational design specifics are still being reviewed, Exxon Mobil Corporation (NYSE:XOM) indicated that the restructure intends to improve competitiveness and align operations with long-term growth ambitions. Notification of affected employees is anticipated by December.

Crude oil, natural gas, petroleum products, petrochemicals, and specialty goods are all produced, transported, and sold globally by Exxon Mobil Corporation (NYSE:XOM), a multinational energy company. It is one of the Safest Stocks To Buy.