Low Oil Prices Prompt ConocoPhillips to Review Workforce Needs

ConocoPhillips warned that reductions should be expected at the company due to low oil prices, a company spokesperson told Rigzone in an email statement.

The layoffs, which will affect all areas of the company, will be driven by lower exploration and production activity due to low oil prices, the spokesperson said.

Tulsa World reported that ConocoPhillips has started laying off employees at its former corporate home in Bartlesville, Oklahoma, due to the persistent fall in crude oil prices. The company has also laid off workers from its Alaskan operations, KTUU-TV reported Tuesday.

Karen Boman has more than 10 years of experience covering the upstream oil and gas sector. Email Karen at kboman@rigzone.com


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