ConocoPhillips Plans to Cut Up to 25% of Its Workforce (2)

ConocoPhillips, the largest independent US oil producer, plans to cut as much as a quarter of its global workforce amid lower crude prices and expectations of peaking shale output.

The majority of the oil giant’s job cuts, which are in the range of 20% to 25% of its roughly 13,000-strong workforce, will occur this year, the company said in an email Wednesday. The downsizing, which includes both employees and contractors, was earlier reported by Reuters.

“We are always looking at how we can be more efficient with the resources we have,” Dennis Nuss, a company spokesman, wrote in ...