Devon Energy will lay off 9 percent of staff to boost returns
Devon Energy Corp said on Tuesday it would lay off 300 workers, roughly 9 percent of staff, part of a plan to streamline operations and boost the shale oil producer’s sagging returns and stock price. Staff will be let go “in the weeks ahead,” Devon said in a statement. Devon, like many of its shale peers, has come under pressure from Wall Street in recent months to focus less on production and more on ways to boost shareholder returns.
Source:: https://finance.yahoo.com/news/devon-energy-lay-off-9-175752443.html
