Devon Energy has announced that its previously announced layoffs will be complete by Thursday.Approximately 700 employees in Oklahoma City are expected to be affected.Devon announced the layoffs as a result of falling oil prices across the country.Devon released the following statement:"Devon has taken these and other cost-reduction actions primarily as a result of the current commodity price environment. The company must reduce expenses across the entire organization to maintain its financial flexibility and competitiveness.Devon will reduce its headcount by approximately 20 percent in the first quarter, or about 1,000 positions. There will be up to an additional 600 employees impacted by the sale of non-core upstream assets. In most cases, we expect these individuals will go to work for the acquiring companies. Approximately 700 employees in Oklahoma City are directly impacted."31967416

Devon Energy has announced that its previously announced layoffs will be complete by Thursday.

Approximately 700 employees in Oklahoma City are expected to be affected.


Devon announced the layoffs as a result of falling oil prices across the country.

Devon released the following statement:

"Devon has taken these and other cost-reduction actions primarily as a result of the current commodity price environment. The company must reduce expenses across the entire organization to maintain its financial flexibility and competitiveness.

Devon will reduce its headcount by approximately 20 percent in the first quarter, or about 1,000 positions. There will be up to an additional 600 employees impacted by the sale of non-core upstream assets. In most cases, we expect these individuals will go to work for the acquiring companies. Approximately 700 employees in Oklahoma City are directly impacted."





