ConocoPhillips, the Houston-based oil giant, is set to lay off up to 25% of its workforce, affecting thousands of jobs. The decision comes as the company faces sliding oil prices and aims to boost its profit margins. Shares of ConocoPhillips have fallen significantly in response to this news. The planned layoffs, which will primarily take place by the end of 2025, are part of a broader restructuring effort to address ongoing cost pressures in the industry.