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| Economy | |
| US oil titan fires a quarter of its staff as jobs bloodbath spreads from retail and technology | |
| 2025-09-05 | |
| [Daily Mail, wjere America gets its news] Oil giant ConocoPhillips is laying off up to 25 percent of its workforce in a huge cost-cutting drive. The layoffs will mean thousands of employees and contractors will lose their jobs within weeks. A company spokesperson confirmed Wednesday that 20 to 25 percent of its global headcount of roughly 13,000 will be affected — roughly 2,600 to 3,250 workers. Most layoffs are expected to take place before the end of the year. 'We are always looking at how we can be more efficient with the resources we have,' the spokesperson said, The Houston-based company's stock fell 4.3 percent on Wednesday following the news, leaving it down nearly 14 percent from a year ago. CEO Ryan Lance informed employees of the layoffs via video message on Wednesday, Reuters reported. The ConocoPhillips layoffs come amid a broader wave of job cuts this summer, with major companies including Walmart, Procter & Gamble, Microsoft, Amazon, Intel, and UPS also announcing reductions.
Related: ConocoPhillips 06/28/2020 District of Columbia Sues BP, Chevron, ExxonMobil and Shell for Misleading Public on Climate Change ConocoPhillips 01/14/2019 Venezuela inflation of 23,000,000% by the end of this year ConocoPhillips 08/08/2018 Venezuela Dodges Oil Asset Seizures with Export Transfers at Sea Related: Layoff 08/27/2025 Bill Gates makes secret move at $77 billion foundation that could have huge political implications Layoff 08/25/2025 Chinese property giant Evergrande delisted after spectacular fall Layoff 08/10/2025 Canada slashes tens of thousands of jobs in sharp economic shift after Trump imposed tariffs | |
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