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ConocoPhillips to Slash 25% of Global Workforce Amid Oil Price Drop

10/24/2025

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Summary

Story summary

ConocoPhillips plans to cut up to 25% of its global workforce.
Notifications begin in Calgary on November 5 and the next day in Alberta and British Columbia.
The company employed 950 people in Canada as of 2024.
The reductions come as oil prices fall and mirror cuts across the U.S. oil industry.
Imperial Oil, majority-owned by ExxonMobil, will cut about 20% of its workforce by 2027 in a Calgary restructuring.

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Story summary

ConocoPhillips plans to cut up to 25% of its global workforce.
Notifications begin in Calgary on November 5 and the next day in Alberta and British Columbia.
The company employed 950 people in Canada as of 2024.
The reductions come as oil prices fall and mirror cuts across the U.S. oil industry.
Imperial Oil, majority-owned by ExxonMobil, will cut about 20% of its workforce by 2027 in a Calgary restructuring.