Apache Cuts 200 Positions Globally

Petrochemical firm Apache is cutting 200 jobs, or about 6% of its global workforce.

The firm blames low oil and natural gas prices.

“Lower commodity prices mean lower cash flow and capital budgets,” a spokesperson said. “We have reduced our employee ranks to reflect current activity levels.”

Apache Corporation is an independent oil and gas corporation based in Houston, Texas. It has grown into a large multinational company, with regional offices and operations in Argentina, Australia, Canada, Egypt and the North Sea.