FACTBOX-Global energy layoffs deepen in 2025 as crude prices weaken, M&A deals surge

(Adds Exxon Mobil) Sept 30 (Reuters) – Global energy majors and related companies plan to slash more jobs in 2025, after cutting thousands last year, as the industry navigates weaker crude oil prices and a rapid consolidation. Benchmark Brent crude futures are down about 10.5% year-to-date, impacted by increased OPEC+ output and persistent demand uncertainty tied to the 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 Exxon Mobil The energy major told Reuters in 2,400 3% to 4% an emailed statement it will lay off 2,000 workers globally as part of a long-term restructuring plan, affecting about 3% to 4% of the company's global workforce. Last year, it announced plans to cut nearly 400 jobs in Texas following its purchase of shale producer Pioneer Natural Resources, according to a regulatory filing. Imperial Oil The Canada-based Unknown 20% company said it would cut its workforce by about 20% by the end of 2027, part of a major restructuring that would eventually shutter most of its presence in the oil-and-gas city of Calgary. 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. ConocoPhillip It will cut 20-25% of Unknown 20%-25% s its workforce amid a broader restructuring program, Reuters reported, citing a company spokesperson. SLB The company is Unknown Unknown 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% to Unknown 15%-20% 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 energy Unknown 10% 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% 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. (Reporting by Sumit Saha, Pranav Mathur, Tanay Dhumal, Nerijus Adomaitis and Pooja Menon; Editing by David Gregorio, Nivedita Bhattacharjee, Sriraj Kalluvila and Krishna Chandra Eluri)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)