ConocoPhillips to Cut Canadian Workforce for Second Consecutive Year

ConocoPhillips notified employees via email on October 26, 2026 that it would announce workforce reductions across its Canadian operations on Tuesday, marking the second straight year the U.S. oil major has laid off workers in the country's oil patch.

The Canada cuts are part of a broader global restructuring in which ConocoPhillips has targeted a reduction of 20 to 25 percent of its total workforce, amounting to as many as 3,200 jobs worldwide. The company employed roughly 950 people in Canada at the end of 2024 and produced approximately 164,000 barrels of oil equivalent per day from its Canadian assets. The restructuring has been tied to falling oil prices and more than 1 billion dollars in cost-reduction initiatives, including savings from its acquisition of Marathon Oil.

The announcement follows similar workforce actions taken in November of the prior year, when ConocoPhillips began layoffs at its Canadian operations as the first phase of its global headcount reduction. Reuters and Bloomberg confirmed the latest round of Canadian cuts, with specifics on the number of positions affected expected when the company makes a formal announcement Tuesday.