The US oil giant ConocoPhillips plans to cut the workforce by 10 percent, equivalent to a reduction of 1,800 jobs.
Most of the jobs will be cut in North America, writes Bloomberg.
The cuts come in the wake of the halving of oil prices since last year, which has contributed to that energy companies around the world have sacked more than 120,000 employees.
- Our industry is going through a dramatic downturn, which has caused that we look at our future need for the labor force, said spokesman Daren Beaudo in ConocoPhillips to the news agency.
ConocoPhillips is the fourth largest US oil company, listed on the New York Stock Exchange with a market worth of $58.9 billion.
DON'T MISS A POST - FOLLOW US ON FACEBOOK!
Comments at Speisa are unmoderated. We do believe in free speech, but posts using foul language, as well as abusive, hateful, libelous and genocidal posts, will be deleted if seen. However, if a comment remains on the site, it in no way constitutes an endorsement by Speisa of the sentiments contained therein.comments powered by Disqus
Toto's Mike Porcaro has passed away
The bassist of the American rock band Toto, Mike Porcaro, is dead, 59 years old.