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Houston oil giant ConocoPhillips will lay off up to 25% of workforce

Workforce News

ConocoPhillips' lay offs could impact thousands of jobs. ConocoPhillips/Facebook

Oil giant ConocoPhillips is planning to lay off up to a quarter of its workforce, amounting to thousands of jobs, as part of broader efforts from the company to cut costs.

A spokesperson for ConocoPhillips confirmed the layoffs on Wednesday, September 3, noting that 20% to 25% of the company's employees and contractors would be impacted worldwide. ConocoPhillips currently has a global headcount of about 13,000 — meaning that the cuts would impact between 2,600 and 3,250 workers.

“We are always looking at how we can be more efficient with the resources we have,” a ConocoPhillips' spokesperson said via email, adding that the company expects the “majority of these reductions” to take place before the end of 2025.

ConocoPhillips' shares fell 4.3% last week. The Houston-based company's stock now sits at under $95 per share, down nearly 14% from a year ago.

News of the coming layoffs was first reported by Reuters, with anonymous sources telling the outlet that CEO Ryan Lance detailed the plans in a video message earlier Wednesday. In that video, Reuters reported, Lance said the company needed “fewer roles” while he cited rising costs.

Last month, ConocoPhillips reported second-quarter earnings of $1.97 billion. That beat Wall Street expectations, but was down from the nearly $2.33 billion the company reported for the same period last year.

In its latest earnings, reported on August 7, ConocoPhillips continued to point to cost cutting efforts — noting that it had identified more than $1 billion in cost reductions and margin optimization. The company also said it had agreed to sell its Anadarko Basin assets for $1.3 billion.

The layoffs could affect about 14,000 of the 140,473 workers employed by the Austin, Texas, company at the end of last year. Photo courtesy of Tesla

Tesla plans to lay off 10 percent of workforce after dismal quarterly sales

making cuts

After reporting dismal first-quarter sales, Tesla is planning to lay off about a tenth of its workforce as it tries to cut costs, multiple media outlets reported Monday.

CEO Elon Musk detailed the plans in a memo sent to employees. The layoffs could affect about 14,000 of the 140,473 workers employed by the Austin, Texas, company at the end of last year.

Musk's memo said that as Tesla prepares for its next phase of growth, “it is extremely important to look at every aspect of the company for cost reductions and increasing productivity,” The New York Times and CNBC reported. News of the layoffs was first reported by electric vehicle website Electrek.

Also Monday, two key Tesla executives announced on the social media platform X that they are leaving the company. Andrew Baglino, senior vice president of powertrain and energy engineering, wrote that he had made the decision to leave after 18 years with the company.

Rohan Patel, senior global director of public policy and business development, also wrote on X that he was leaving Tesla, after eight years.

Baglino, who held several top engineering jobs at the company and was chief technology officer, wrote that the decision to leave was difficult. “I loved tackling nearly every problem we solved as a team and feel gratified to have contributed to the mission of accelerating the transition to sustainable energy,” he wrote.

He has no concrete plans beyond spending more time with family and his young children, but wrote that he has difficulty staying still for long.

Musk thanked Baglino in a reply. “Few have contributed as much as you,” he wrote.

Shares of Tesla fell 4.8 percent Monday afternoon, hours after news of the layoffs and departures broke. Shares of Tesla Inc. have lost about one-third of their value so far this year as sales of electric vehicles soften.

Tesla sales fell sharply last quarter as competition increased worldwide, electric vehicle sales growth slowed, and price cuts failed to draw more buyers. The company said it delivered 386,810 vehicles from January through March, nearly 9 percent below the 423,000 it sold in the same quarter of last year.

Since last year, Tesla has cut prices as much as $20,000 on some models as it faced increasing competition and slowing demand. The price cuts caused used electric vehicle values to drop and clipped Tesla's profit margins.

The company has said it will reveal an autonomous robotaxi at an event in August.

Here's what you should consider if you need to make cuts to your business — now or in the future. Photo via Getty Images

4 layoff alternatives energy businesses should consider in a downturn, according to this Houston expert

guest column

Preparing for a potential economic downturn can be unsettling for employers and employees. As payroll is typically one of the largest expenditures for a business, no matter its size, layoffs seem like the quickest fix. While this may offer short-term relief, they can severely impact operations and workplace culture.

When staff is reduced, culture can suffer. Employee morale can decrease and distrust may build, especially if layoffs are not communicated properly. This can lead to the remaining employees feeling anxious about their own future with the organization and spur them to look for employment elsewhere, which can affect an organization’s overall productivity and day-to-day operations.

Business owners should get creative and consider the impact and the many alternatives before resorting to workforce reductions.

Analyze salaries

If the organization’s downturn is short-term, senior leadership and upper management could accept temporary salary reductions until business improves. However, if the situation is more dire, leaders might consider an option such as cutting overhead with job sharing. Employee numbers then remain the same, but two positions become one and it is filled by two part-time employees to support a function or role. Furloughs for non-essential employees give employers time to consider if permanent layoffs are necessary. Of course, this requires an understanding of each performers contribution within the organization to determine overall impact and level of “necessity.”

Look at schedules

Permanent remote work could save on operating costs, such as leases and travel expenses, which gives more budgetary leeway to avoid layoffs. Another approach is implementing a four-day workweek to reduce hours and salaries by 20 percent. The added benefit to a shortened workweek is better employee work-life balance.

Scale Back Benefits

When finances are in a critical state, and leadership is looking to avoid layoffs, employers can scale benefits and perks for all employees. Temporarily pausing the 401(k) match, relying more on virtual business meetings instead of incurring travel expenses, and cutting employee bonuses can help ease the economic burden without letting people go. As with salary reductions, scaling back on benefits should begin with leadership before expanding to others.

Streamline Systems

When auditing the company, employers should also evaluate company processes and workflows for efficiency. It’s possible an employee could be more productive in a different role or a process may be found to be more laborious than necessary. Digital software is another alternative to help streamline systems. Employee feedback is another great resource to help identify gaps and streamline processes. A good practice is to have performers look for ways to make tasks within their role more efficient and productive.

Every decision has its costs. The most important thing employers can do is to be open and honest with employees, including transparency about the state of business. This communication style can increase employee buy-in during economic uncertainty and encourage employees to rally and be part of the resiliency of the organization.

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Karen Leal is a performance specialist with Houston-based Insperity, a provider of human resources offering a suite of scalable HR solutions available in the marketplace.

This article originally ran on InnovationMap.

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Houston energy tech company breaks ground on low-cost green hydrogen pilot plant

coming soon

Houston’s Lummus Technology and Advanced Ionics have broken ground on their hydrogen pilot plant at Lummus’ R&D facility in Pasadena.

The plant will support Advanced Ionics’ cutting-edge electrolyzer technology, which aims to deliver high-efficiency hydrogen production with reduced energy requirements.

“By demonstrating Advanced Ionics’ technology at our state-of-the-art R&D facility, we are leveraging the expertise of our scientists and R&D team, plus our proven track record of developing breakthrough technologies,” Leon de Bruyn, president and CEO of Lummus, said in a news release. “This will help us accelerate commercialization of the technology and deliver scalable, cost-effective and sustainable green hydrogen solutions to our customers.”

Advanced Ionics is a Milwaukee-based low-cost green hydrogen technology provider. Its electrolyzer converts process and waste heat into green hydrogen for less than a dollar per kilogram, according to the company. The platform's users include industrial hydrogen producers looking to optimize sustainability at an affordable cost.

Lummus, a global energy technology company, will operate the Advanced Ionics electrolyzer and manage the balance of plant systems.

In 2024, Lummus and Advanced Ionics established their partnership to help advance the production of cost-effective and sustainable hydrogen technology. Lummus Venture Capital also invested an undisclosed amount into Advanced Ionics at the time.

“Our collaboration with Lummus demonstrates the power of partnerships in driving the energy transition forward,” Ignacio Bincaz, CEO of Advanced Ionics, added in the news release. “Lummus serves as a launchpad for technologies like ours, enabling us to validate performance and integration under real-world conditions. This milestone proves that green hydrogen can be practical and economically viable, and it marks another key step toward commercial deployment.”

Houston Energy Transition Initiative releases 2025 year in review

The View From HETI

The Houston Energy Transition Initiative (HETI) concludes another impactful year by reaffirming our commitment to positioning Houston as the global leader in the energy transition – delivering more energy with fewer emissions. HETI continues to be focused on advancing key regional priorities, driving economic development and talent recruitment.

It was a year of changes across the energy landscape, yet HETI continued to collaborate, convene, and deliver measurable progress. Below are some of the year’s key highlights:

Sharing Members’ Impact on Decarbonization and Emissions Reductions

HETI released a report detailing members’ low-carbon initiatives and commitments, showcasing industry momentum and long-term pathways to achieving the dual challenge of meeting growing global energy demand while reducing emissions. Major findings include more than $95 billion in low-carbon investments and 20% reduction in Scope 1 emissions since 2017 by HETI-affiliated companies. The report also recommends strategic pathways for continued emissions reductions.

Advancing CCUS at Commercial Scale

HETI publicly supported efforts to accelerate carbon capture, utilization, and storage (CCUS) efforts to commercial scale. Early in the year, HETI and the Houston CCS Alliance commissioned Texas A&M University’s Energy Institute and Mary Kay O’Connor Process Safety Center to research the operational history and safety record of CCUS in the United States. In November, the U.S. Environmental Protection Agency granted Texas authority to permit CCUS—a significant win that increases the region’s competitiveness in the global energy ecosystem.

Leadership in Resilient Power for Houston’s Growth

In June, HETI hosted its first Resilient Power: Fueling Houston’s Growing Economy summit, bringing together more than 100 business and civic leaders to discuss the role of resilient, reliable power in Houston’s economic development. Cross-sector leaders explored the impacts of rising power demand driven by industrial decarbonization and digitalization, and discussed the essential collaboration between the energy and tech sectors to strengthen long-term resilience through an “all of the above” approach. HETI also published a fact sheet on Houston’s resilient power access, affordability, and reliability as a resource for partners.

Showcasing Houston’s Leadership at CERAWeek 2025

HETI participated in CERAWeek 2025, elevating Houston’s energy leadership on the world stage. The HETI House activation in the Innovation Agora attracted more than 1,000 visitors and generated over 80 economic development leads. In addition, HETI partnered with Rice Alliance and TEX-E for the fourth annual Energy Ventures Pitch Competition at CERAWeek, bringing together students, startups and energy leaders to advance innovation and investment.

Scaling Houston’s Innovation Ecosystem

As Houston’s energy innovation ecosystem continues to grow, HETI plays an important role in shaping its future. During its second year, Houston Energy and Climate Startup Week attracted more than 3,900 attendees from local and global startups, industry leaders, and investors—further solidifying Houston’s status as the world’s leading energy innovation hub.

Strengthening Regional Competitiveness

To advance technology commercialization and support the Gulf Coast’s continued energy competitiveness, HETI hosted its second annual Gulf Coast National Labs Workshop. This year’s event convened more than 120 leaders representing six national laboratories, industry partners, academia, and government stakeholders to accelerate collaboration around the region’s greatest energy and chemical challenges.

HETI’s progress this year is significant, but the work ahead is even more critical. As we move into the new year, HETI remains steadfast in its commitment to convening industry leaders, informing policy, supporting innovation, and driving economic growth across the region. This work strengthens Houston’s core energy economy and accelerates the emerging sectors that will ensure Houston continues to lead the world in energy.

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This article originally appeared on the Greater Houston Partnership's Houston Energy Transition Initiative blog. HETI exists to support Houston's future as an energy leader. For more information about the Houston Energy Transition Initiative, EnergyCapitalHTX's presenting sponsor, visit htxenergytransition.org.

Chevron CEO touts biofuels as part of its renewable energy efforts

Betting on biofuels

As Chevron Chairman and CEO Mike Wirth surveys the renewable energy landscape, he sees the most potential in biofuels.

At a recent WSJ CEO Council event, Wirth put a particular emphasis on biofuels—the most established form of renewable energy—among the mix of low-carbon energy sources. According to Biofuels International, Chevron operates nine biorefineries around the world.

Biofuels are made from fats and oils, such as canola oil, soybean oil and used cooking oil.

At Chevron’s renewable diesel plant in Geismar, Louisiana, a recent expansion boosted annual production by 278 percent — from 90 million gallons to 340 million gallons. To drive innovation in the low-carbon-fuels sector, Chevron opened a technology center this summer at its renewable energy campus in Ames, Iowa.

Across the board, Chevron has earmarked $8 billion to advance its low-carbon business by 2028.

In addition to biofuels, Chevron’s low-carbon strategy includes hydrogen, although Wirth said hydrogen “is proving to be very difficult” because “you’re fighting the laws of thermodynamics.”

Nonetheless, Chevron is heavily invested in the hydrogen market:

As for geothermal energy, Wirth said it shows “some real promise.” Chevron’s plans for this segment of the renewable energy industry include a 20-megawatt geothermal pilot project in Northern California, according to the California Community Choice Association. The project is part of an initiative that aims to eventually produce 600 megawatts of geothermal energy.

What about solar and wind power?

“We start with things where we have some reason to believe we can create shareholder value, where we’ve got skills and competency, so we didn’t go into wind or solar because we’re not a turbine manufacturer installing wind and solar,” he said in remarks reported by The Wall Street Journal.

In a September interview with The New York Times, Wirth touched on Chevron’s green energy capabilities.

“We are investing in new technologies, like hydrogen, carbon capture and storage, lithium and renewable fuels,” Wirth said. “They are growing fast but off a very small base. We need to do things that meet demand as it exists and then evolve as demand evolves.”

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