ConocoPhillips expects to lay off at least 500 employees early next year

KPRC

HOUSTON – At least 500 ConocoPhillips employees could be laid off early next year.

John Roper, spokesman for the Houston-based company, said severance notifications could begin as early as Feb. 1, but the exact number of employees is still being evaluated.

“We have been transparent with employees that targeted workforce reductions in certain areas of our business may be necessary from time-to-time to align organizational capacity with expected future activity levels,” Roper said. “In light of this and in anticipation of our acquisition of Concho Resources, which is set to close in the first quarter of 2021, ConocoPhillips is taking actions to align our business to remain competitive.”

Roper said the affected employees will be given a 60-day notice, severance and outplacement assistance.