Gulf of Mexico-focused energy co. cuts workforce by 18 percent

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Energy XXI Gulf Coast Inc. (Nasdaq: EXXI), which emerged from bankruptcy late last year, announced a recent workforce reduction on June 14. The Houston company cut its total employee count by about 18 percent “to lower its overhead costs and better align its staffing with its current expected operational plans,” according to a press release. As of Dec. 31, the company reported 237 employees, according to its 2017 annual report filed with the U.S. Securities and Exchange Commission. The move…