Last mentioned: Feb 18, 2026
Review Completion Target
Expected deadline for the conclusion of the strategic asset portfolio review.
FY25 Earnings Release
Santos officially reports a decline in profit and sales due to weak commodity prices.
Restructuring Confirmed
Management confirms job cuts and the commencement of a global asset review.
Workforce Reduction Leaks
Initial reports surface regarding a 10% headcount cut at Santos.
Australian energy giant Santos Ltd has announced a 10% reduction in its global workforce and a strategic review of its assets following a significant decline in full-year profit. The restructuring aims to streamline operations and preserve capital amid a period of volatile global natural gas prices and rising operational costs.
Global energy and resource leaders are reporting mixed results as commodity price volatility and regulatory modernization reshape the sector. While Australian major Santos faces profit headwinds, U.S.-based EQT Corporation capitalizes on natural gas demand, and Alcoa invests in regulatory compliance for its mining operations.