ConocoPhillips, the Houston-based oil giant, is set to lay off up to 25% of its global workforce, impacting thousands of employees. This decision comes as a response to rising production costs and declining oil prices, sparking deeper discussion about the future of the energy sector. CEO has expressed regret for not paying closer attention to the shifts in competitiveness, attributing part of the layoffs to the company’s focus on mergers and acquisitions. The layoffs could begin as early as November 10, raising concerns in both Texas and Oklahoma regarding job security in the energy industry. This move aligns with broader trends in the oil sector, where other major companies are also implementing significant job cuts.