APA Cuts Up To 15% of Workers, Adding to Oil Industry Downsizing

APA Corp. cut about 300 employees globally as it becomes the latest oil producer to reduce costs by eliminating jobs.

The company formerly known as Apache made the reductions in January and late February, APA said in an emailed response to questions. It amounts to between 10% and 15% of the company’s workforce of more than 2,300 worldwide.

APA “has undertaken a comprehensive organizational review and is implementing changes to reduce its overall cost structure and ensure long-term competitiveness,” spokesperson Castlen Kennedy wrote. “While these decisions are difficult, we are working to support impacted employees.”

Lower crude prices, accelerating oilfield ...