Woodside Energy to eliminate at least 500 jobs and raise cost savings

Australian petroleum producer Woodside Energy announced plans to eliminate more than 500 jobs, representing at least 10 percent of its global workforce. Seeking Alpha, Reuters, and MarketScreener all reported that the company also increased its annual cost savings target by 50 million dollars, bringing the total target to 400 million dollars. [1][2][3][4]

The planned job reductions will affect a global workforce that stood at 4,693 employees at the end of 2025, according to Seeking Alpha. The cuts are aimed at streamlining operations while expanding the firm's ongoing cost reduction initiative. [1][4]

Woodside Energy is an oil and gas exploration and production company headquartered in Perth, Western Australia, and trades publicly on the Australian Securities Exchange. It stands as the largest independent dedicated oil and gas company in Australia. In 2025, the firm was ranked 494th on the Forbes Global 2000 list of public companies. [5]

The business originated in July 1954 when it was incorporated as Woodside Oil Company to pursue exploration in Victoria. Early operations focused on domestic energy resource prospects following World War II before the business grew into a major global energy producer. [6]