ConocoPhillips to slash up to 25% of its workforce — up to 3,200 jobs

Oil giant ConocoPhillips is set to cut 20% to 25% of its workforce, impacting 2,600 to 3,250 employees globally, as part of a cost-cutting initiative expected to conclude by the end of 2025. Despite a second-quarter earnings report of $1.97 billion, the company faces rising costs, prompting these layoffs and a recent 4.3% drop in its stock value.

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