- DCP Midstream (DPM) says it is cutting ~300 jobs across operations, 10% of its workforce, and cuts capital spending to $250M as part of a cost-cutting push.
- DPM says it is executing a strategy of resetting its break-even cost to ensure sustainability as a reliable, safe, low-cost midstream services provider in any environment.
- The joint venture between Phillips 66 (PSX) and Spectra Energy (SE) employs 2,900 people in 17 states.
- Now read High-dividend stock yields 11% with over 20% cash flow and EBITDA growth, estimates rising