Reported 1 day ago
ConocoPhillips (COP) has announced plans to reduce its global workforce by 20% to 25%, potentially impacting up to 3,250 employees and contractors. This decision is part of a larger restructuring to improve margins and cut costs following its $17 billion acquisition of Marathon Oil in 2024. The company aims to achieve $1 billion in additional cost savings as it addresses rising production costs.
Source: YAHOO