HOUSTON, April 10 (Reuters) – U.S. shale oil producer Devon Energy Corp said on Tuesday it would lay off 300 workers, roughly 9 percent of staff, part of a plan to streamline its operations.
Oklahoma City-based Devon said it expects the cuts to help save $150 million to $200 million annually by 2020. The staff will be let go in the coming weeks.
Shares of Devon jumped more than 6 percent on Tuesday in line with the broader markets and oil prices. (Reporting by Ernest Scheyder; Editing by David Gregorio)
Brought to you by OutPut and Rig Lynx
