Global Oil Giants Announce Massive Layoffs Amid Market Volatility
In a major reshuffling of the oil and gas industry, companies like ConocoPhillips, Chevron, and SLB are set to cut a significant portion of their workforce through 2025. Amid lower oil prices, increased output by OPEC+, and economic uncertainties influenced by U.S. trade policies, these industry titans are consolidating after a wave of mergers and acquisitions, driving massive job cuts that impact tens of thousands of employees globally.
Sep 4