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Hess (NYSE:HES) is laying off ~10% of its workforce and streamlining operations, Reuters reports.

Hess, which had 1,770 employees as of year-end 2019, dismissed 165 full-time workers this week and terminated an undisclosed number of contract employees, according to the report.

The company recently reported its fifth consecutive quarterly loss, and its $320M Q2 loss pushed its H1 loss past $500M.



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