WPX Energy, the Tulsa-based company with natural gas operations in western Colorado, said Monday that it is cutting its workforce by 8 percent — including the loss of 36 jobs in Colorado.
There will be 25 jobs lost in Denver and 11 in the company’s Parachute office on the Western Slope, WPX said in a statement.
About 120 people will also be affected by the consolidation of most of WPX’s Denver workforce to company headquarters in Tulsa, Okla. The employees are receiving offers to relocate.
“These are tough decisions that impact good people,” Rick Muncrief, the company’s CEO, said in a statement. “We do not take that lightly.”
The cuts and consolidation are efforts to reduce costs in the face of natural gas prices that have fallen by about a third in the last six months, the company said.
WPX said it plans to maintain a small staff of fewer than 15 people in Denver to support its legal, environmental compliance, safety and government affairs functions.
About 220 WPX employees will remain in the Parachute office, where the company has 4,700 wells.
