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ConocoPhillips to reduce workforce in Canada

By Reuters News

By Vallari Srivastava and Katha Kalia

Oct 26 (Reuters) - ConocoPhillips COP.N has informed its staff of a reduction to its workforce in Canada, a spokesperson for the oil and gas producer said on Monday.

The reduction includes employees and contractors and is set to take place on Tuesday, the spokesperson added.

However, the Houston, Texas-based company did not disclose how many jobs were affected.

ConocoPhillips has about 9,900 employees globally, according to its 2025 annual report.

"We routinely review our organization to align with our long-term strategy, operate safely and efficiently, and remain well-positioned for future opportunities," the spokesperson said.

Last year, ConocoPhillips said it would cut 20% to 25% of its workforce as part of a broader restructuring aimed at streamlining operations and reducing costs following its acquisition of Marathon Oil.

ConocoPhillips said at the time that most of the reductions would be made before 2025 and expected the reorganization to be completed in 2026.

Shares of the company were up marginally in afternoon trading.

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