U.S. oil producer APA cut nearly 300 employees globally in January and late February, Bloomberg News reported on March 19.
The figure amounts to around 10% to 15% of APA's workforce, the report added, citing the company's reply to an email.
APA did not immediately respond to a Reuters request for comment.
The news comes days after APA and its partners announced a successful oil discovery on their shared acreage in Alaska's North Slope.
The oil industry has been consolidating in recent years, focusing on mergers, operational efficiency and returns to shareholders.
Other oil companies have looked to optimizing operations as well. Chevron said last month that it would lay off 15% to 20% of its global workforce by the end of 2026 as it seeks to cut costs, simplify its business, and complete a major acquisition.
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