March 19 (Reuters) - U.S. oil producer APA has

cut nearly 300 employees globally in January and late February,

the company confirmed to Reuters on Wednesday.

The layoffs are part of the cost-cutting plans APA had

announced in January.

The company had said in February it reduced its

corporate office count by more than one-third.

The total number of layoffs was first reported by Bloomberg

News earlier on Wednesday.

The news comes days after APA and its partners announced a

successful oil discovery on their shared acreage in Alaska's

North Slope.

The oil industry has been consolidating in recent years,

focusing on mergers, operational efficiency and returns to

shareholders.

Other oil companies have looked into optimizing

operations as well. Chevron said last month it would lay off 15%

to 20% of its global workforce by the end of 2026 as it seeks to

cut costs, simplify its business and complete a major

acquisition.