ConocoPhillips Announces 20-25% Workforce Reduction Amid Restructuring
ByAinvest
Friday, Sep 5, 2025 11:23 am ET1min read
COP--
ConocoPhillips plans to cut 20-25% of its workforce, or 3,250 jobs, as part of a restructuring to stay competitive in a volatile oil market. CEO Ryan Lance cited rising controllable costs and a decline in oil prices as factors driving the decision. The company has already identified $1 billion in savings and plans to lay out details of its new structure later this month. Shares fell 4.5% to $94.55.
Stay ahead of the market.
Get curated U.S. market news, insights and key dates delivered to your inbox.
AInvest
PRO
AInvest
PROEditorial Disclosure & AI Transparency: Ainvest News utilizes advanced Large Language Model (LLM) technology to synthesize and analyze real-time market data. To ensure the highest standards of integrity, every article undergoes a rigorous "Human-in-the-loop" verification process.
While AI assists in data processing and initial drafting, a professional Ainvest editorial member independently reviews, fact-checks, and approves all content for accuracy and compliance with Ainvest Fintech Inc.’s editorial standards. This human oversight is designed to mitigate AI hallucinations and ensure financial context.
Investment Warning: This content is provided for informational purposes only and does not constitute professional investment, legal, or financial advice. Markets involve inherent risks. Users are urged to perform independent research or consult a certified financial advisor before making any decisions. Ainvest Fintech Inc. disclaims all liability for actions taken based on this information. Found an error?Report an Issue
Comments
No comments yet