By Georgina McCartney and Arathy Somasekhar
HOUSTON (Reuters) -U.S. oil and gas producer ConocoPhillips will cut 20-25% of its workforce, a company spokesperson said Wednesday.
Employees received an email this morning containing a video message from CEO Ryan Lance detailing the plans, three sources told Reuters. The company is set to hold a townhall meeting on Thursday morning at 9 a.m. central time, the sources said.
(Reporting by Georgina McCartney, Arathy Somasekhar and Ernest Scheyder in Houston)