Location: Houston, Texas, USA.
Based on news reporting.
ConocoPhillips has announced significant layoffs affecting approximately 1,000 employees as part of a restructuring effort in response to ongoing challenges in the oil industry. The layoffs are set to take effect on October 1, 2023, as the company aims to streamline operations and reduce costs amidst fluctuating oil prices and market uncertainties. This decision reflects the broader trend within the oil sector, where companies are adjusting their workforce to remain competitive. The layoffs will primarily impact the Houston office, although specific departments affected have not been disclosed. ConocoPhillips has indicated that these cuts are necessary to ensure long-term sustainability and profitability.
ConocoPhillips cut 1,000 jobs as of October 1, 2023.
That is roughly 9.7% of the 10,300 people ConocoPhillips employs.
LayoffTalk has tracked 19 layoff events at ConocoPhillips since October 2023, affecting a combined 6,700 employees.
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