A spokesperson for ConocoPhillips confirmed the layoffs on Wednesday, noting that 20% to 25% of the company’s employees and contractors would be impacted worldwide. ConocoPhillips currently has a global headcount of about 13,000 — meaning that the cuts would impact between 2,600 and 3,250 workers.

Oil giant ConocoPhillips announced Thursday that it will lay off about 25% of its workforce globally as part of a restructuring. Lower oil prices contributed.

ConocoPhillips plans to lay off a quarter of its workforce, according to the Associated Press (AP). AP reported a spokesperson for the oil company confirmed the layoffs on Wednesday. An estimated 20%-25% of ConocoPhillips' employees and contractors may be affected.

Houston, Texas-based energy giant ConocoPhillips announced Wednesday a major turn in the company’s restructuring to cut costs. What we know so far: According to ConocoPhillips: Following this announcement,

Following the announcement, ConocoPhillips' stock price dropped approximately 4 percent. The company has already identified more than $1 billion in cost and margin optimizations, building on savings garnered from its Marathon Oil acquisition and other cost-cutting actions.

ConocoPhillips is cutting up to 25% of its workforce as part of a broad restructuring, a company spokesperson told CSP on Wednesday. CEO Ryan Lance detailed the plans in a morning video message, according to Reuters.

In a strategic move to navigate the challenging economic landscape, ConocoPhillips Company, a leading U.S. oil giant, is set to reduce its workforce by 25%. This decision, driven by plummeting crude prices,

ConocoPhillips, one of the largest independent oil companies in the United States, has announced a sweeping workforce reduction that could impact nearly a quarter of its employees worldwide. The decision comes amid ongoing efforts to streamline operations and address rising costs in an increasingly volatile energy market.