Phillips 66 plans to lay off 1,100 workers by end-2022

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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 14,000 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)