BARTLESVILLE, Okla. –
By the Numbers:
- The range: 20% to 25% of ConocoPhillips’ global headcount, or an estimated 2,600 to 3,250 positions. A spokesperson said both employees and contractors will be impacted worldwide.
- Timing: Company communications indicated the bulk of reductions will roll out over the coming months, with additional details expected after internal meetings this week.
- Stock reaction: ConocoPhillips shares fell roughly 4% on Sept. 3 on the layoff news.
- Current size: ConocoPhillips reported a workforce of roughly 13,000 after closing the Marathon deal in late 2024.
What it means for Bartlesville
ConocoPhillips is considered a major employer in Bartlesville, but the company has not specified location by location totals. Local impact remains unclear.
If cuts hit Bartlesville, the move could ripple through the housing market, consumer spending and the pipeline of specialized energy jobs.
Context on the Marathon Oil deal
ConocoPhillips completed its purchase of Marathon Oil on Nov. 22, 2024, in a transaction valued at about 22.5 billion dollars. At the time, the company highlighted expected cost savings and efficiencies from combining operations.
Track record of prior reductions
The company has implemented workforce cuts during previous downturns, including reductions in 2009 and a larger round in 2015. The current plan represents one of its most significant reorganizations in years.
What is next
Company leaders told employees to expect more details this week during internal meetings. Station crews are monitoring for new guidance on specific business units and geography.
