- Who Owns ConocoPhillips? Oil Giant to Axe Up to 3,250 Staff in Brutal Global Layoffs as Energy Crisis Bites
https://www.msn.com/en-gb/money/other/who-owns-conocophillips-oil-giant-to-axe-up-to-3-250-staff-in-brutal-global-layoffs-as-energy-crisis-bites/ar-AA1M0rAK
- ConocoPhillips will cut up to 3250 jobs worldwide by the end of 2025, slashing 20% to 25% of its global workforce in a sweeping restructuring plan.
Company: ConocoPhillips
Number of People Laid Off: 3250
Published At: 09/06/2025 & 11:21 AM UTC
Industry: Oil and gas
ConocoPhillips, one of the largest independent oil and gas companies in the United States, has announced plans to cut up to 3,250 jobs worldwide by the end of 2025. This represents between 20 and 25 percent of its global workforce. The company said the layoffs are part of a restructuring effort driven by falling crude oil prices, rising production costs, and broader economic pressures that have reduced profitability.
Headquartered in Houston, ConocoPhillips became a standalone upstream energy company in 2012 after spinning off its downstream operations into Phillips 66. The company is publicly traded, and ownership is spread across institutional investors, mutual funds, hedge funds, and individual shareholders — meaning no single entity controls it outright.
Leadership remains under CEO and Chairman Ryan Lance, who has held the role since 2012. During his tenure, the company has expanded through acquisitions, most recently completing a $22.5 billion purchase of Marathon Oil earlier this year. Despite this growth, the company is now moving aggressively to cut costs and reposition itself amid ongoing volatility in the global energy sector.