Sad news comes in the wake of the latest economic oil bust as Anadarko Petroleum Corp. (NYSE: APC) with headquarters based in The Woodlands has confirmed it will cut up to 1,000 jobs according to a confirmed source The Houston Chronicle reported.

Of Anadarko’s 5,800 employees as of December 31, according to a United States Securities and Exchange Commission filing, a cut of 1,000 jobs would be a little more than 17 percent of their employees.

See more on the story here from The Houston Chronicle and The Houston Business Journal.