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Benzinga
Benzinga
Business
Dylan Berman

ConocoPhillips Shares Are Trading Lower Wednesday: What's Going On?

ConocoPhillips
Kiev,,Ukraine,-,February,18,,2021:,In,This,Photo,Illustration

ConocoPhillips (NYSE:COP) shares closed down on Wednesday. The company announced it will cut its workforce by 20% to 25%.

What To Know: According to Reuters, ConocoPhillips will eliminate between 2,600 and 3,250 roles from its global workforce of about 13,000 employees. Most of the job cuts are expected to be made before the end of the year, a company spokesperson said.

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