(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 14,00 employees in 2021 according to a company presentation, expects to cut staff to 12,900 by the end of this year.
(Reporting by Arunima Kumar in Bengaluru; Editing by Vinay Dwivedi)
