Factbox-Global oil and gas company layoffs in 2024 and 2025

(Reuters) -International oil and gas companies plan to shed more jobs in 2025 after cutting thousands last year as prices remain under pressure and consolidation gathers pace.

Benchmark Brent crude futures are down about 10% year-to-date, impacted by increased OPEC+ output and persistent demand uncertainty tied to U.S. trade policy.

A snapshot of energy companies that have announced job cuts in 2024 and 2025:

Company Description Layoff/Job % of Total

Cuts Workforce

Halliburton The oilfield services 290 Unknown

  provider has been employees

cutting staff in in

recent weeks, Argentina

according to two

sources familiar with

the matter.

In February, an oil

and gas workers’

union in Argentina’s

oil-rich Chubut

province threatened

to strike after

Halliburton laid off

hundreds of workers

and decided to close

its local office.

OMV The Austrian oil, gas 2,000 8.6%

and chemicals group

plans to cut 2,000 of

its 23,000 worldwide

staff, the Kurier

newspaper reported.

ConocoPhill It will cut 20-25% of Unknown 20%-25% 

ips  its workforce amid a

broader restructuring

program, Reuters

reported, citing a

company spokesperson.

SLB  The company is Unknown Unknown

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reorganizing certain

functions within its

business and

continuing to reduce

its workforce,

according to a source

familiar with the

matter and an

internal email seen

by Reuters.

Chevron  It will lay off 15% Unknown 15%-20%

to 20% of its global

workforce, the U.S.

oil company said in

February during an

internal employee

town hall meeting,

according to a source

familiar with the

matter.

APA Corp  It has cut nearly 300 300 nearly 15%

employees globally in

January and late

February, the company

confirmed to Reuters

in May.

BP  British oil major BP 7,000 5%

will cut over 5% of

its global workforce,

it said in January,

as part of CEO Murray

Auchincloss’ efforts

to reduce costs and

rebuild investor

confidence in the

energy giant.

Petronas Malaysian state Unknown 10%

energy firm Petroliam

Nasional, or

Petronas, will

retrench about 10% of

its workforce in a

restructuring

exercise, its chief

executive said in

June.

Civitas It will reduce 10% of Unknown 10%

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Resources  its workforce in a

bid to enhance and

streamline its

organizational

structure, the

company said in

February.

Harbour It is set to cut 250 250 Unknown

Energy  jobs, approximately a

quarter of the

workforce at its UK

unit based in

Aberdeen, the company

said in a statement

in May.

Equinor  Last year, it had 250 Unknown

announced plans to

lay off some 20% or

about 250 people from

its renewable energy

division after

scaling down its

offshore wind plans. 

Shell  Last year, Shell had Unknown 20%

announced plans to

scale back its oil

and gas exploration

and development

workforce by 20%,

after deep cuts in

renewables and

low-carbon

businesses.

Exxon Last year, it 400 Unknown

Mobil  announced plans to

cut nearly 400 jobs

in Texas following

its purchase of shale

producer Pioneer

Natural Resources,

according to a

regulatory filing.

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