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ConoccoPhillips to slash global workforce by 10%

American energy major ConoccoPhillips will slash its global workforce by around 10% with most of the cuts taking place on home soil.

The Houston-headquartered firm is likely to let go of around 1,800 people as low oil prices around the world take their toll on the giant conglomerate.

Last month the CEO of ConocoPhillips Ryan Lance had revealed the company was restructuring in a bid to trim costs by $1bn.

The 1,800 layoffs add to 176,000 workers around the globe who have been made redundant because of the oil slump, according to energy recruiter Swift Worldwide Resources.

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Published on:
September 2, 2015
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