DCP Midstream reduces workforce by 20%

Denver, CO-based DCP Midstream has reduced its workforce by approximately 20%. In a statement, the company called the move ‘a corporate restructuring’ resulting in the closing of the company’s Oklahoma City regional office, as well as a headcount reduction in the Tulsa and Midland offices. Functions of those locations would be moved primarily to its Denver headquarters and Houston regional office.

"With a 90-year history, we are repositioning ourselves for the long term and ensuring we have a sustainable workforce that meets our future needs," said chairman and CEO Wouter van Kempen. "While this transition is difficult, we are establishing DCP for continued growth founded upon a culture of operational excellence."

DCP Midstream LLC, a 50/50 joint venture between Phillips 66 and Spectra Energy, is the largest natural gas processor, the largest natural gas liquids producer and one of the largest marketers in the US.

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