10% Conoco cuts to hit Alaska

ConocoPhillips is proposing to cut some 10 percent of its workforce.

The impact is expected to be within that 10 percent range in Alaska, ConocoPhillips Alaska spokeswoman Natalie Lowman told Petroleum News in a Sept. 1 email.

She said while the cut will be some 10 percent of the company’s global workforce, the largest percentage cuts are expected to occur in North America.

More will be known in the next several weeks as the company works through its formal process.

“Our industry is undergoing a dramatic downturn, which has caused us to look at our future workforce needs,” the company said.

ConocoPhillips said it has taken several steps to strengthen its position, including reducing capital spending and its future deepwater exploration program, but said “workforce reductions are necessary to become a stronger, more competitive company.”

The company said it was “committed to treating all our employees with respect and fairness during this process.”

ConocoPhillips Alaska employs some 1,200 people.

- Petroleum News