ExxonMobil (XOM.US) adjusts trader compensation structure to enhance competitiveness with industry giants.

According to reports, ExxonMobil (XOM.US) plans to reduce the salaries of some traders as part of a compensation restructuring, including year-end performance bonuses and long-term incentives. ExxonMobil informed traders in the United States and Europe this month that base salaries will be reduced to better align with industry standards. ExxonMobil stated in a release that the company plans to offer competitive salaries that are in line with market benchmarks. It also added that bonuses and long-term incentives will depend on "company performance, global trading performance, and individual performance." It is worth noting that while these changes are taking place, ExxonMobil is undergoing a comprehensive reform of its trading business to better compete with companies like BP (BP.US) and Shell (SHEL.US). In recent years, these two companies have made huge profits from their commodities businesses.