(Reuters) – Refiner Phillips 66 said on Wednesday, it plans to reduce its employee headcount by 1,100 to help cut costs and meet its savings target of $500 million by end-2022.
Phillips, which had 14,000 employees in 2021 according to a company presentation, expects to cut staff to 12,900 by the end of this year.
(This story has been corrected to change 2021 employee count to 14,000 in paragraph 2)
(Reporting by Arunima Kumar in Bengaluru; Editing by Vinay Dwivedi)
