ConocoPhillips plans layoffs as part of broad restructuring [Yahoo! Finance Canada]
ConocoPhillips (COP)
Last conocophillips earnings: 4/30 07:00 am
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US:NYSE Investor Relations:
conocophillips.com/investor-relations/investor-presentations
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Source: Yahoo! Finance Canada
The job cuts are the latest sign of pain in the oil and gas industry, which is facing higher costs and lower revenues as prices hover around $63 a barrel. Many companies say they cannot drill profitably if oil prices fall under $65 a barrel. Oil giants Chevron and SLB announced their own layoffs earlier this year. Houston-based ConocoPhillips hired management consulting firm Boston Consulting Group to advise on the restructuring and layoff program, which is being referred to internally as "Competitive Edge," two sources told Reuters. The sources declined to be named as the discussions were confidential. ConocoPhillips has started by restructuring its operations and announced it would centralize some functions, two sources added. The company previously had six operating segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International, according to its annual report. The operations restructuring will be followed by reorganizati
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COP
Earnings
- 11/6/25 - Beat
COP
Sec Filings
- 12/16/25 - Form 4
- 12/16/25 - Form 4
- 12/3/25 - Form 4
- COP's page on the SEC website