ConocoPhillips plans to lay off 20–25% of its global workforce—roughly 2,600 to 3,250 employees—amid rising operational costs and falling profits. The decision was shared in an internal message from CEO Ryan Lance, who noted the company had fallen behind its industry peers. Most layoffs are expected before the end of 2025, with a full corporate restructuring to be implemented by 2026.

While specific regional impacts haven't been disclosed, ConocoPhillips employs around 950 people in Canada, mainly in Alberta’s oil sands and northern B.C. The cuts are part of a broader trend in the North American energy sector, following similar layoffs this year at Chevron and SLB. The company’s Q2 2025 net income dropped to $2 billion USD—the lowest since early 2021—prompting a focus on capital efficiency and cost reduction.

In the context of Canada's job market, this adds further pressure to the energy sector, a major employer in Western Canada. Although Canada has seen overall employment gains in 2025, resource-dependent regions remain vulnerable to global market volatility and corporate restructuring efforts, highlighting the ongoing fragility in key industries.

Have you been laid off by ConocoPhillips in Canada? Contact our employment lawyers today. Our legal team offers a free consultation and works on a contingency basis—there are no fees unless you win your case.

Georgina McCartney, Arathy Somasekhar and Ernest Scheyder’s original article, "ConocoPhillips says it will cut workforce by up to 25 per cent” was published in Global News on September 3, 2025. Read the Full Global News story.