Woodside Energy Announces 10% Workforce Reduction and Increases Cost Savings Target to $400 Million
Australia's Woodside Energy (WDS) has announced plans to reduce its global workforce by at least 10%, representing more than 500 job cuts, to be completed by the end of 2025. This restructuring follows a strategic move to streamline operations and improve efficiency within the company. In addition to the headcount reduction, Woodside has raised its annual cost-savings target by $50 million, bringing the total projected savings to $400 million. The decision reflects the company's ongoing efforts to optimize its cost structure amidst evolving market conditions.
Tickers: $WDS
Topics: cost reduction layoffs workforce reduction
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