According to Reuter’s report, some major international oilfield companies – Schlumberger Ltd and Halliburton and others have announced plans to lay off thousands of people in the past few months as global oil prices have nearly halved since June.
In January, crude prices fell to their lowest in more than five years, hurt by a global supply glut and OPEC’s refusal to curtail production. This prompted oil producers to trim their budgets and lower the number of rigs planned for 2015, hurting their suppliers and service providers.
Smaller oil services company Weatherford said last month it would eliminate the position of chief operating officer, while tiny oil and gas producer Resolute Energy Corp said it
would slash its CEO’s base pay by 96 percent.
Oil major BP Plc said it would freeze its base pay across the company this year, while Basic Energy Services has said it has implemented salary cuts for all management and administrative employees and made changes to some benefit programs.
Company Job cuts Total no. of Date of
no./percentag employees job cuts
e
Schlumberger Ltd 9,000 jobs About 120,000, as Jan. 15,
of Dec. 31, 2014 2015
Baker Hughes Inc 7,000 jobs About 59,400, as Jan. 20,
of Dec. 31, 2013 2015
Halliburton 5,200-6,400 77,000, as of Feb. 10,
jobs Dec. 31, 2013 2015
Helmerich & Payne 2,000 jobs 11,914, as of Jan. 29,
Inc Sept. 30, 2014 2015
Weatherford 5,000 jobs 67,000, as of Feb. 05,
International Plc Dec. 31, 2013 2015
Hercules Offshore About 30 pct About 2,200, as Feb. 03,
Inc of Dec. 31, 2013 2015
Basic Energy 400 jobs About 5,400, as Feb. 11,
Services Inc of Dec. 31, 2013 2015
SunCoke Energy Inc 175 jobs 1,577, as of Dec. Dec.15,
31, 2013 2014
Ion Geophysical About 10 pct 879, as of Dec. Feb. 11,
Corp 31, 2014 2015
Laredo Petroleum 75 jobs 371, as of Dec. Jan. 20,
Inc 31, 2013 2015
PostRock Energy 25 pct of its About 209, as of Feb. 15,
Corp Oklahoma Dec. 31, 2013 (57 2015
headquarters in Oklahoma
staff headquarters)