ConocoPhillips says it will slash as much as 25% of workforce — sending oil giant's shares tumbling
1. ConocoPhillips plans to cut 20%-25% of its workforce. 2. CEO noted rising costs making operations challenging. 3. Company's net income fell to $2 billion in Q2. 4. Shares dropped 4.4% to $94.68 post-announcement. 5. Restructuring expected to enhance competitiveness by 2026.