ConocoPhillips plans layoffs as part of broad restructuring By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Source: Investing.com
ConocoPhillips Job Cuts: ConocoPhillips plans to reduce its workforce as part of a restructuring initiative called "Competitive Edge," following its $23 billion acquisition of Marathon Oil, amid challenges in the oil and gas industry due to low prices and rising costs.
Operational Restructuring: The company is centralizing operations and exploring asset divestitures, including potential sales of inherited assets from the Marathon Oil takeover, with details on layoffs expected in the fourth quarter of this year.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
