ConocoPhillips to lay off 1.800 workers

  • Business & Finance

ConocoPhillips to lay off 1.800 workersConocoPhillips, the U.S. exploration and production independent, will cut its headcount by around ten percent, with North America the most affected.

This means that around 1.800 workers will be let go, as the company’s present global workforce stands at 18.100.

“We’ll know more in the next several weeks as we work through our formal process. Our industry is undergoing a dramatic downturn, which has caused us to look at our future workforce needs,” Daren Beaudo, the company’s Communications Director said in an e-mail to Offshore Energy Today.

Based in Texas, ConocoPhillips employs 3,753 workers in Houston. The company said around 500 of Houston employees would be affected.

“As we have assessed the implications of lower prices on our business, we’ve made the difficult decision that workforce reductions will be necessary.”

“We have taken several significant steps as a company to strengthen our position, including reducing our capital spending and future deepwater exploration program. However, the workforce reductions are necessary to become a stronger, more competitive company.”

“We are committed to treating all our employees with respect and fairness during this process.”

Beaudo could not provide the specifics on how its global operations would be affected by business unit or region.

 

 Offshore Energy Today Staff

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