Phillips 66 said on Wednesday it plans to reduce employee headcount by 1,100 by end-2022 as the refiner seeks to meet its savings target of $500 million.
Reuters last month reported about the company cutting staff at refineries, terminals and offices, citing people familiar with the matter.
The refiner on its investor call also laid out plans to save $1 billion in costs by end-2023.
Phillips, which had 14,000 employees in 2021 according to a company presentation, expects to cut staff to 12,900 by the end of this year.
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