Houston’s ConocoPhillips may face layoffs

HOUSTON – The Houston Chronicle reports that Employees of ConocoPhillips face more layoffs after the oil company’s merger with Marathon Oil, which triggered sweeping job cuts in Houston last year. A spokesman for the Houston oil giant confirmed Friday that the company had informed employees about additional layoffs, but declined to specify how many or when the layoffs would take place. “We are working through the process carefully and won’t speculate on timing or numbers while our evaluation is ongoing,” he said in a statement.

Reuters reported Tuesday that ConocoPhillips hired Boston Consulting Group to guide its restructuring and layoff program. The layoffs come as the company works to operate more efficiently after the $22.5 billion merger that closed in November. Marathon Oil notified the Texas Workforce Commission last year that it would cut more than 500 people at its CityCentre offices as a result of the union. The company said last year that it expected the merged company to save $500 million annually in costs, including $250 million in general and administrative costs related to salaries, benefits and facilities. However, ConocoPhillips’ CEO, Ryan Lance, sent a letter to employees implying that the cost savings would not result in workforce reductions. Marathon did not receive the same letter before its layoffs, according to a report in the Houston Business Journal.