Woodside to axe 500 jobs as part of new $570 million costs blitz
The roles will be axed from Woodside’s 4600-strong workforce as part of a plan to save nearly $600m from 2028.
Woodside Energy will cut 500 jobs, or about 10 per cent of its workforce, as part of a new target to cut costs by $500 million a year.
Australia’s biggest oil and gas company is also revising its dividend policy and sharpening its forecast return on capital to 12 per cent to 15 per cent by the mid-2030s as it redeploys cash from big new projects nearing completion of under development in Australia and offshore.
“Our priority now is to extract more value from our portfolio,” Woodside chief executive Liz Westcott, who took the helm in March, said.
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By continuing you agree to our Terms and Privacy Policy.The cost cuts will target $US400m ($571m) of savings from 2028 and include more than 500 job cuts.
Woodside’s global workforce stood at 4600 at the end of 2025.
More to come....
Originally published on The Nightly
