DCP Midstream eliminating 300 jobs nationwide

DCP Midstream LLC, a joint venture between Phillips 66 and Spectra Energy, is cutting 300 jobs nationwide, including 20 jobs in Houston this week and 80 more throughout the rest of Texas, according to Fuel Fix.

The pipeline and gas processing joint venture began an overall downsizing about 18 months ago. It has also reduced its 2016 capital budget down to $250 million, from its 2015 capital budget of $550 million.

Once the job eliminations are completed, DCP will be employing approximately 2,900 people.

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