Freeport McMoRan lays off more Houston staff

Freeport McMoRan lays off more Houston staff

Phoenix, Arizona-based Freeport McMoRan Oil & Gas is laying off nearly two- dozen staff at its offices in Houston, Texas, its second wave of job cuts in five months.

The 23 workers will be released starting on November 12.

In May Freeport McMoRan Oil & Gas, a subsidiary of mining giant Freeport McMoRan, had made redundant 170 workers at the same Houston offices.

The job cutbacks are to cut the company’s debts and in reaction to poor performance by its oil division in these times of slumping prices. The parent company is redirecting its focus to mining, in particular copper.

Ten days ago Freeport McMoRan Oil & Gas sold its deep-water Gulf of Mexico assets to Texas-based Anadarko Petroleum for $2bn, a price that many analysts considered cheap.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

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