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Market Chatter: ConocoPhillips to Lay Off 20% to 25% of Workforce
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Market Chatter: ConocoPhillips to Lay Off 20% to 25% of Workforce
Sep 3, 2025 8:44 AM

11:22 AM EDT, 09/03/2025 (MT Newswires) -- ConocoPhillips ( COP ) will be laying off 20% to 25% of its workforce, Reuters reported Wednesday, citing a company spokesperson.

Employees received an email Wednesday morning with a video message from Chief Executive Ryan Lance explaining the plans, according to three sources, the report said.

The company will hold a town hall meeting on Thursday at 9 a.m. Central Time, the sources added.

ConocoPhillips ( COP ) didn't immediately reply to MT Newswires' request for comment.

Shares of the company were nearly 4.5% down in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 94.47, Change: -4.52, Percent Change: -4.57

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