ConocoPhillips to Cut 1,800 Jobs as Oil Downturn Seen Prolonged

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  • Fourth-largest U.S. oil company to eliminate 10% of jobs
  • Company spokesman says steps taken amid 'dramatic downturn'

ConocoPhillips, the fourth-largest U.S. oil company, plans to reduce its workforce by 10 percent in the latest sign that the energy industry is preparing for a longer downturn.

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