ConocoPhillips Says It Will Cut Workforce by 20-25%, Shares Fall

ConocoPhillips to begin layoffs as early as Nov. 10, company says in state notice

U.S. oil company ConocoPhillips will begin company-wide layoffs as early as Nov. 10, the company said in a state notice sent to some employees.

Oil giant to lay off up to 25% of its workforce

NEW YORK — Oil giant ConocoPhillips is planning to lay off up to a quarter of its workforce, amounting to thousands of jobs, as part of broader efforts from the company to cut costs.

ConocoPhillips says it will lay off up to 25% of its global workforce, impacting thousands of jobs

The oil company currently has a workforce of about 13,000 — meaning that the cuts would impact up to 3,250 workers.

Oil Company Plans to Lay Off Thousands

Oil giant ConocoPhillips is planning to lay off up to a quarter of its workforce, amounting to thousands of jobs, as part of broader efforts from the company to cut costs. A spokesperson for ConocoPhillips confirmed the layoffs on Wednesday, noting that 20% to 25% of the company's employees and...

US oil giant ConocoPhillips will lay off up to 25% of its global workforce

The U.S. oil giant announced layoffs as crude futures prices have decreased by about 11% this year.

ConocoPhillips says it will cut workforce by 20-25%, shares fall

Shares of the third-largest U.S. oil producer declined 4.5% to $94.55, outpacing a 2.6% drop in the broader S&P 500 Energy Index.