By Suzanne Downing 
ConocoPhillips is set to begin its first wave of company-wide layoffs on Monday, marking the start of a sweeping global restructuring that will trim an estimated 20 to 25 percent of its workforce before the end of the year.
The Houston-based oil and gas producer had announced the cuts in September as part of a broad initiative called “Competitive Edge,” aimed at cutting costs, streamlining operations, and integrating Marathon Oil following its $23 billion acquisition earlier this year. The reduction will affect roughly 2,600 to 3,250 employees and contractors across the company’s 13,000-person global workforce. It is entirely possible that many jobs have been absorbed by artificial intelligence, an angle that is impacting many sectors of the economy.
Employees notified this month will receive 60 days’ notice, with final employment end dates expected to begin around Dec. 1, according to numerous sources. The company has identified more than $1 billion in annual savings as part of the overhaul.
In Canada, layoffs began earlier this month, affecting workers in Calgary as well as field sites at Surmont and Montney. Similar actions are expected to follow in U.S. offices in Houston, Bartlesville, and Anchorage, with particular impact to administrative and finance teams.
Industry observers note that ConocoPhillips is not alone in cutting back. Chevron, BP, and Schlumberger have all announced reductions in 2025 amid softening oil prices 0 down about 11% since January – and mounting pressure from shareholders to maintain dividend strength.
While ConocoPhillips has not publicly commented on the layoffs through official channels, various internet forums and employee boards have been active with rumors and reports of additional rounds planned through December.
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When will the State of Alaska start doing mass layoffs
You Alaska can’t live off Government forever eventually it runs out of money without a private sector to pay for it
And taxing the existing businesses isn’t the answer because they’ll eventually leave too for more business friendly states
This is C-P’s way of saying “Merry Christmas suckers, we’ve got shareholders to think about” and the latter part is absolutely right. Everyone working in the oil/gas industry knows about its boom/bust nature, so these layoffs should come as no surprise.
It’s a business decision. The only ones that never get laid off are federal, state and municipal employess. Have. you ever noticed how free and clear the roads are in the mornings on a government holiday?