I guess this is a general question, for all players in the industry: will there be layoffs in 2015 oil and gas
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Chevron is in the mist of drastic lay offs. The official count in the technology area is 1500 jobs. Human energy.....
Oil could bounce back to $80 within 12 months. It could stay below $50 for three years or more. Watch the futures market.
They are already laying off. BP has laid off about 20,000 internationally. I've heard Otha are doing the same.
unfortunately, much of management now was not around in the 80s to learn important personnel lessons. It will be very ugly............
You can search this board for Schlumberger which is the largest oil services firm in the world - you'll see hundreds of posts talking about 2015 layoffs in Oil and Gas industry. Also, search for Baker or Baker Hughes, pretty much the same story. Halliburton is expected to announce large cuts as well. So far most of the cuts were happening Upstream but we'll see how things affect Downstream companies, you'll probably see layoffs there in Q2 and Q3 2015.
Well, you have Schlumberger laying off 9,000 people, Baker Hughes announced 7,000 layoffs today, Wheatheford 9,000, Suncor 1000, Apache 250, BP 1000, etc. So, 2015 has started with a bang.
Those jobs were mostly created due to crazy high gas prices due to speculators and dirty wars. Texas has always bragged about being open for business and credited their wins during the recession due to their right wing politics and they forgot to mention that they were doing well because oil was doing well (see above reasons as to why) so now it's just time to pay their dues. Texas and Saudi's are not that different- both are right wingers who have done little to diversify their economy when the going was good.
The 1980s energy bust adversely impacted the size of Oil industry's work force, leaving companies without the experience and knowledge they needed when prices rose and work picked up again. I hope we do not make the same mistake again.