Oil and Gas Industry – 100,000 layoffs over oil price slump

Job Market Monitor

Layoffs in the oil and gas industry are nearing 100,000 worldwide since oil price started declining late last summer, a report said. North Sea Oil

Oilfield service companies Schlumberger, Baker Hughes, and Halliburton announced layoffs of around 20,000, 10,500, and 9,000 employees respectively, while E&Ps BP and Chevron each announced layoffs approaching 10,000 of their employees, according to Douglas-Westwood, a leading provider of market research in engineering and energy industry.

According to a survey completed in January 2015 by Rigzone, 44 per cent of the surveyed companies indicated that they plan to hire fewer workers over the next six months while 5 per cent indicated they plan to completely halt hiring efforts.

Chosen excerpts by Job Market Monitor. Read the whole story at 100,000 industry layoffs over oil price slump.

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