Conocophillips | Layoff Event

Summary

ConocoPhillips confirmed on September 3, 2025, plans to lay off 2,600 to 3,250 employees and contractors worldwide, representing 20% to 25% of its total workforce. The company stated these cuts are part of broader cost-cutting efforts.

Layoff Details

Reason

Broader efforts to cut costs

Affected Locations

worldwide

Job Levels Affected

employeescontractors

Rehire Timeline

Most reductions expected before end of 2025

Market Impact

Significant layoffs in the oil and gas sector, especially from a major player, can reflect strategic shifts in response to market conditions, energy prices, or a focus on operational efficiency.

Industry Context

The oil and gas industry, like many others, is undergoing restructuring and cost-cutting measures, potentially influenced by global economic factors and the drive for efficiency.

Stock Performance Around Layoff

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