ConocoPhillips to cut 25% of its workforce

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.

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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 contract