Conoco and Phillips to Reduce Workforce

Conoco and Phillips Petroleum Co. announced that they will cut an undisclosed number of jobs at corporate headquarters in Houston, and at locations in Arizona and Oklahoma.

Conoco, currently headquartered in Houston, has 3,000 employees there. Phillips, now based in Bartlesville, Oklahoma, also has 1,500 employees in Houston, the companies said. The merger of the two companies is expected to close in the second half of 2002, will make its home in Houston. "We are still naming management structure who will be working on those decisions," said Sondra Fowler, a Conoco spokeswoman, about the number of jobs that will be cut in Houston. The new company will also make a "slight reduction" of jobs at Phillips' wholesale and retail marketing operations in Tempe, Arizona. Phillips employs 1,500 people there, according to Phillips spokeswoman Kristi DesJarlais.

Remaining jobs will be transferred to Houston, and Tempe will become the joint company's retail marketing organization and associated support services. In Ponca City, Oklahoma, the new company will cut jobs as it retains certain functions, including Conoco's refinery and research and development activities in the city. No jobs will be cut at Phillips' corporate headquarters in Bartlesville, which will house the new company's global information center, global financial resources and human resource support organizations. Conoco has a global work force of 20,000, while Phillips employees 37,000 people worldwide.

The companies also announced more appointments to its management team. As in past announcements, the appointments are comprised of employees from both companies.