Last mentioned: Feb 19, 2026
FY26 Outlook Review
Company to report on the success of cost-saving measures and volume targets.
Restructuring Implementation
Expected completion of the headcount reduction and organizational streamlining.
FY25 Earnings Release
Santos reports a 33% drop in net profit and announces a 10% workforce reduction.
Pikka Phase 1 Start
Anticipated commencement of production at the Alaska-based Pikka project.
Australian energy major Santos has announced a 10% reduction in its workforce following a sharp 33% drop in annual net profit for fiscal year 2025. The restructuring aims to bolster cost-efficiency as the company navigates a period of lower global energy prices and prepares for the launch of major projects in Alaska and Australia.
Australian energy giant Santos has announced a significant restructuring plan that will eliminate one in ten positions across its global operations. The move follows a sharp decline in annual profits, signaling a strategic shift to preserve capital amidst volatile global energy markets and rising project costs.