Occidental starting widespread layoffs in Houston and beyond
Occidental Petroleum is initiating a broad layoff effort this week that will stretch from Houston to Denver as the Permian Basin’s leading oil producer aims to cut costs in the aftermath of its massive $38 billion acquisition of Anadarko Petroleum last year.
Oxy has for months offered voluntary employee buyouts and worked to sell assets around the world – from the old Anadarko headquarters in The Woodlands to Anadarko’s entire Africa portfolio – but now the Houston energy firm is moving on to terminating jobs, according to an internal email from Oxy Chief Executive Vicki Hollub.
Apache, 2 other Houston oil companies cut nearly 600 jobs
Three Houston oil and gas companies Thursday said they would slash nearly 600 jobs in Texas, a day after Occidental Petroleum began a massive staff reduction.
Article submitted by, sheltomlee.