Whiting Petroleum laid off 16 percent of its workforce, the Denver-based energy company said in a statement.
About 90 percent of the jobs were corporate positions, according to Wednesday’s statement. Additionally, Whiting said it cut compensation for company officers by 15 to 20 percent and reduced the number of executives.
Whiting is cutting costs after emerging from bankruptcy in early September. The company was among the first in a rash of producers to go bankrupt as oil prices crashed amid overseas price wars and a decline in demand due to the pandemic.