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ConocoPhillips to lay off Canada employees in November, company memo shows
ConocoPhillips will cut up to 25% of its global workforce starting with Canadian layoffs amid sustained oil price declines, impacting 950 employees, company data shows.
- ConocoPhillips said in a memo that layoffs in Canada will start next month, with employees in Calgary notified on Nov. 5 and Surmont and Montney staff on Nov. 6.
- This year, falling oil prices have pressured ConocoPhillips and U.S. rivals, forcing staff cuts and spending reductions as Chevron, SLB, BP and Imperial Oil also reduce workforces.
- ConocoPhillips employed 950 employees in Canada as of the end of 2024 with 164,000 barrels of oil equivalent per day production, but spokesperson Dennis Nuss said `We will not be sharing area-specific workforce numbers for current or impacted employees and contractors`.
- U.S.-Owned companies have begun cutting their Canadian divisions as major domestic oilsands players remain sheltered by cost-cutting and a lower Canadian dollar.
- ConocoPhillips' global plan suggests broader restructuring with global workforce reductions, while Chevron, SLB and BP's cuts highlight tighter spending across the sector this year.
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Coverage Details
Total News Sources8
Leaning Left3Leaning Right1Center4Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 38%
C 50%
12%
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