Reported about 13 hours ago
ConocoPhillips, a leading U.S. oil and gas producer, plans to implement layoffs as part of a restructuring strategy following its $23 billion acquisition of Marathon Oil. The company is facing challenges with rising costs and declining revenues due to low oil prices and has hired a consulting firm to guide its restructuring process, which aims at centralizing operations and improving efficiency. While the specifics of the layoffs remain undisclosed, they are expected to be announced in the fourth quarter of this year.
Source: YAHOO