ConocoPhillips cuts another 70 Norwegian jobs

US-based oil company ConocoPhillips, which lost more than USD 1 billion in the third quarter, will now perform additional layoffs among its employees in Norway, reports Norwegian daily Stavanger Aftenblad.

Photo: ConocoPhillips

With a deficit of USD 1.07 billion, the third quarter 2015 became the most expensive quarter for US-based oil company ConocoPhillips in more than six years.

This result calls for further savings and has, and according to Norwegian daily Stavanger Aftenblad, prompted the company to announce additional 70 layoffs in Norway. The company has thus announced that a total 640 Norwegian jobs will be cut in 2015 and 2016.

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