Oil Giant Santos to Cut One in 10 Workers as Profit Slides

Around 400 workers are expected to be affected by the layoffs after Santos posted a 25 percent drop in profit for 2025.

A general view of Santos tower in the Brisbane CBD, Australia on December 19, 2019. AAP Image/David Clark

One in ten Santos employees will be looking for a new job as the oil and gas giant targets cutbacks to “rightsize” the business.

The layoffs would impact around 400 of Santos’ just over 4,000 employees, according to the group’s full year report.