Woodside Energy is planning to cut at least 500 jobs globally as part of a major cost-cutting program that will target the company’s operating expenses.
The Western Australia-based gas producer announced the planned cuts on November 5, saying the changes form part of a broader effort to reduce costs and improve returns for shareholders.
The job losses represent almost 10 per cent of Woodside’s global workforce. However, the company has not yet confirmed how many positions in Australia will be affected.
That uncertainty is particularly significant in Western Australia, where around 80 per cent of Woodside’s workforce is based.
The announcement is expected to attract attention across the state’s resources sector, which has already experienced several rounds of job reductions during 2026.
Woodside plans to reduce costs by about $550 million a year from 2028. The company has pointed to its major gas developments as an important part of its longer-term strategy.
One of those projects is Scarborough, located offshore from Western Australia’s Pilbara region. Woodside said the project was about 80 per cent complete and approaching its first liquefied natural gas shipment.
The company also highlighted the North West Shelf as an important part of its future operations. The project recently received approval to continue operating until 2070.
The job cuts have prompted a mixed reaction in Western Australia.
WA Treasurer Rita Saffioti expressed disappointment over the planned reductions but said the state government remained supportive of the gas industry and its role in the state’s economy.
Environmental groups, meanwhile, have used the announcement to question the future of the fossil fuel industry and Woodside’s plans for additional gas developments.
For employees and contractors, the immediate concern is how the restructuring will affect individual roles and operations. Woodside is expected to provide more detail about the workforce changes as the cost-cutting program progresses.
The announcement comes as Australia’s resources sector continues to balance large investment projects with pressure to control costs and deliver stronger returns to investors.
