Sector News

Cumulative job cuts at ConocoPhillips to approach 15 percent

September 2, 2015
(Reuters) – Stung by the worst downturn in oil in six years, crude producer ConocoPhillips said on Tuesday it will trim its current workforce by 10 percent in a second round of layoffs – only months after a first round of cuts reduced staff by 5 percent.
The cumulative impact of the reductions, to be felt most severely in North America, will be around 2,810 jobs, or nearly 15 percent of the 19,100 staff the company, a top U.S. independent, had at the end of last year.
Conoco has 3,753 workers in Houston, its headquarters, where more than 500 layoffs are expected.
“We’ll know more in the next several weeks as we work through our formal process,” the company said.
(Reporting by Terry Wade; Editing by Leslie Adler)

comments closed

Related News

August 23, 2019

The higher purpose of being a CEO

Borderless Leadership

LinkedIn Twitter Xing EmailWhen I left my second large company experience to become President of a small manufacturing company I did so driven by ego; I fancied the title. Soon […]

August 23, 2019

As Brexit nears, Britain’s drugs, devices and pricing regulators seek the exit

Life sciences

LinkedIn Twitter Xing EmailFirm details on exactly how the U.K. will regulate new medicines is still to be decided after it leaves the EU later this year (caveats on timing […]

August 23, 2019

The Simply Good Foods Company acquires Quest Nutrition for $1bn

Food & Drink

LinkedIn Twitter Xing EmailThe Simply Good Foods Company, the owner of Atkins-branded food products, has secured a deal to acquire protein snack maker Quest Nutrition for $1 billion. Quest, which […]

How can we help you?

We're easy to reach