Santos Flags 10% Job Cuts as Free Cash Flow Hits $1.8B

Santos will cut around 10% of its workforce as it transitions major growth projects into steady-state operations, even as the company reported $1.8 billion in free cash flow and increased shareholder returns for 2025. Santos Ltd posted annual production of 87.7 million barrels of oil equivalent (mmboe) and sales volumes of 93.5 mmboe, generating $4.9 billion in revenue. Underlying net profit after tax came in at $898 million. Free cash flow from operations reached $1.8 billion, driven by what the compa ...