DCP Midstream sheds 300 jobs

DCP Midstream LLC, the Denver-based 50-50 joint venture of Phillips 66 and Spectra Energy Corp., has cut 300 operational and corporate roles, or 10% of its workforce, across its 17-state footprint.

“DCP Midstream recognized the signposts of a challenging cycle in 2014 and implemented measures to reduce our breakeven cost by 50% through simplifying and realigning contracts, optimizing our systems, and taking cost out of the business, all the while operating safely and reliably and ensuring ample liquidity,” commented Wouter van Kempen, chairman and chief executive officer.

DCP Midstream now employs 2,900 people. 

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...