The Biggest U.S. Oil Companies Are Eliminating Thousands of Jobs

In the last couple of years, the largest U.S. oil companies gobbled up smaller ones. Now, contending with persistently mediocre oil prices, those giants are laying off many workers in hopes of squeezing more fuel from the ground at lower cost. The latest is ConocoPhillips of Houston, which said on Wednesday that it would cut up to 25 percent of its global staff, or as many as 3,250 people, most of them this year. The company employs around 13,000 people, including contractors. “We are always looking at how we can be more efficient with the resources we have,” a company...