Marathon Oil and ConocoPhillips' $22.5B Deal Sparks Major Layoffs [Yahoo! Finance]
ConocoPhillips (COP)
Last conocophillips earnings: 4/30 07:00 am
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US:NYSE Investor Relations:
conocophillips.com/investor-relations/investor-presentations
Company Research
Source: Yahoo! Finance
layoff from its Houston facility affecting about 500 employees. The company has filed a Worker Adjustment & Retraining Notification with the Texas Workforce Commission. The company further indicated that the job status of the affected employees would be notified within a month of the close of the merger. While some of the employees will be retrained for transition roles, most are set to face permanent job losses. Although the scope and duration of transition roles are still being defined, more than half are expected to extend beyond six months. ConocoPhillips, in May 2024, announced an accord with Marathon Oil to acquire it in an all-stock transaction valued at $22.5 billion. The deal, expected to close in the fourth quarter of 2024, will add to COP's extensive unconventional oil portfolio. The acquisition will add a high-quality inventory at a low cost and help the company achieve its financial and operational goals. The deal is expected to become attractive for shareholders as i
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News
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COP
Earnings
- 10/31/24 - Beat
COP
Sec Filings
- 11/4/24 - Form 4
- 11/4/24 - Form 4
- 10/31/24 - Form 10-Q
- COP's page on the SEC website