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Anadarko Cuts 1,000 Jobs as It Idles Drilling Rigs, Sells Assets

Anadarko Petroleum Corp. is shrinking its workforce in the latest step to cope with a collapse in oil and gas prices, following plans to park rigs, slash dividends and sell assets.

The third-largest U.S. natural gas producer is laying off about 1,000 workers, roughly a 17 percent reduction, said company spokesman John Christiansen. The move will affect departments throughout the organization, he said.