HOUSTON - 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.

Thousands of jobs could be impacted

By the numbers:

A spokesperson for ConocoPhillips confirmed the layoffs on Wednesday, 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.

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

What they're saying:

"We are always looking at how we can be more efficient with the resources we have," a ConocoPh

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