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No word how it might affect its operations in Bartlesville, but ConocoPhillips confirmed Wednesday it plans to cut it worldwide workforce by 20% to 25%.
The slashing of its number of employees is considered be part of a broad restructing. It also sent shares fallling more than 4% to $94.91.
ConocoPhillips has nearly 13,000 workers so the layoffs would result in up to 3,200 of them losing their jobs. The company confirmed the cuts will be made before the end of the year.
The announced layoffs came a few weeks after the company identified more than $1 billion of cost reduction and margin enhancement opportunities.
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