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Cumulative job cuts at ConocoPhillips to approach 15 percent

September 2, 2015
News
(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)

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