U.S. oil giant ConocoPhillips informed its employees that it will reduce "20 to 25%" of its global workforce as part of a broad restructuring, the company confirmed to USA TODAY on Sept. 3.

Dennis Nuss, ConocoPhillips' director of media relations, said the cuts are part of "looking at how we can be more efficient with the resources we have" and that the majority of the layoffs will take place in 2025.

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