THE WOODLANDS, Texas – The fourth largest oil company in the nation announced Thursday it is making major job cuts.
Anadarko reports having shed about 1,000 positions — nearly 17 percent of its workforce. The company is based in The Woodlands.
In February, Anadarko leaders discussed cutting the 2016 budget in half. The decision was based on energy market conditions and the prolonged drop in oil and natural gas prices.
In anticipation of lower market activity, Anadarko officials said the company started making necessary job cuts for a broad range of positions.
Anadarko spokesman John Christiansen said the company hasn’t crunched the numbers on how many people from The Woodlands office were affected.
Christiansen said those affected are coworkers and friends. He said it is a difficult day for everyone.