US oil company APA has confirmed the layoff of nearly 300 employees globally in early 2025 as part of cost-cutting measures announced in January.
The layoffs, which took place in January and late February, represent nearly 15% of the company's workforce and follow a reduction of more than one-third in its corporate office workforce.
Reuters reported that the layoffs are a response to the oil industry's trend towards consolidation, with companies increasingly focusing on mergers, operational efficiency and shareholder returns.
The announcement comes shortly after APA and its partners revealed a successful oil discovery in Alaska's North Slope, highlighting the contrasting fortunes within the sector.
Bloomberg News, which first reported the total number of layoffs, noted that many oil and gas companies are conducting layoffs in the face of net-zero regulations and economic challenges.
For instance, in January, energy giant bp announced it would cut nearly 8,000 jobs globally, reducing 4,700 positions from its workforce and eliminating 3,000 contractor roles as part of its new strategy.
In a similar move, Chevron announced plans in February to cut its workforce by 15–20% by the following year, impacting up to 9,000 employees globally. Chevron aims to lower structural costs by $2–3bn by 2026.
Chevron vice-chairman Mark Nelson said: “Chevron is taking action to simplify our organisational structure, execute faster and more effectively, and position the company for stronger long-term competitiveness.”
Founded in 1954, APA operates through its subsidiaries in the US, Egypt’s Western Desert and the UK’s North Sea, with exploration opportunities offshore Suriname.
