Archive · 4 Sep 2025
ConocoPhillips to Lay Off up to 3,250 Employees Globally
ConocoPhillips, a big oil company, is planning to let go of a lot of workers.
They are cutting between 20% and 25% of their global workforce, which could mean about 2,600 to 3,250 people will lose their jobs.
The company's boss, Ryan Lance, talked about this in a video to the employees.
The goal is to make the company run better and cut down on costs, especially because oil prices have gone down.
The majority of the layoffs are expected to occur before the end of 2025.
Other companies in the oil business, like Chevron, are also cutting jobs.
ConocoPhillips is laying off 20-25% of its global workforce.
Between 2,600 and 3,250 employees will be affected.
The layoffs are part of a cost-cutting effort due to falling oil prices.
CEO Ryan Lance addressed the workforce in a company-wide video.
Most of the cuts are expected before the end of 2025.
- Who
- ConocoPhillips
- What
- Announced layoffs of 20-25% of its workforce.
- When
- Not explicitly stated
- Where
- Globally
- Why
- To streamline operations and reduce costs due to declining oil prices.
- Company
- ConocoPhillips
- Layoff Percentage
- 20-25%
- Approximate Number of Employees Affected
- 2,600-3,250
- CEO
- Ryan Lance
- Net Income (Q2)
- $2 Billion
- Share Price Change (YTD)
- -4.7%
