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Actionable news in DVN: DEVON ENERGY CORPORATION,

Devon Energy cuts staff, dividend, spending on oil price crash

An energy installation on a property leased to Devon Energy Production Company by the Catholic Archdiocese of Oklahoma City is seen near Guthrie, Oklahoma September 15, 2015.

Devon Energy Corp (DVN.N) slashed its dividend and capital spending 75 percent on Tuesday and said it will lay off 20 percent of its staff as low prices roil shale oil companies.

The Oklahoma City-based company, a top U.S. independent oil producer, said it was laying off 1,000 staff and that another 600 employees would leave in divestitures later this year.

The moves by Devon mark the latest in a string...


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