Energy industry layoffs have begun and will accelerate – Houston Chronicle

Just a few months ago I remember energy industry executives reassuring the public that the drop in crude oil prices would last only a short while and no one needed to worry about losing their jobs or an economic slowdown.Unfortunately, you can’t take billions of dollars every day out of any industry and not expect some pain, even from the big corporations with healthy balance sheets.Apache is the latest to announce layoffs, cutting 250 employees or about 5 percent of its workforce. This comes after Halliburton announced 1,000 pink slips and BP said it would cut 200. Lewis Energy, a drilling company, is trimming its workforce 20 percent.

via Energy industry layoffs have begun and will accelerate – Houston Chronicle.

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