ConocoPhillips Has Cut 5% of Workforce, More to Come

ConocoPhillips, which is working to cut $1 billion in operating costs as low crude prices persist, has so far cut about 1,000 jobs, or 5 percent of its workforce and more cuts are to come, the company's chief financial officer said.

 

The Houston company is going through a review of operations that "is going to result in more jobs cuts," CFO Jeff Sheets told Reuters.

 

He declined to say how many positions will be eliminated.