Battered U.S. oil industry firms scramble to delay looming retirement wave

Reuters

NEW YORK | By Edward McAllister | Reuters.com After 20 years in the oil business, Craig Reed, 62, is thinking about winding down his career just as a second downturn in six years rocks the oil industry. Reed is part of the baby boomer generation that forms the backbone of the U.S. oil workforce and now weighs retirement as energy firms cut spending and shelve projects. That is a worrying View Details

Worst of energy industry layoffs may be over…for now

CNBC

Tom DiChristopher | CNBC | Thursday, 7 May 2015 | 12:57 PM ET In good times, Big Roy Trucking runs 17 trucks to haul water to and from the Bakken oilfields. In the first quarter of this year, the family owned business scaled back to just the 11 trucks it owns. But recently, Big Roy has been able take two of its subcontractors back on, and Trista Rust, whose husband and father-in-law run View Details

Oil layoffs could come back to haunt the industry

CNBC

Tom DiChristopher, NBR, CNBC.com The fall to six-year lows in oil prices has been swift and unexpected. The pace of energy sector layoffs in recent weeks has been similarly quick, if not so surprising. Job cuts are inevitable as oil and gas companies watch commodity prices tumble, but layoffs today could have significant ramifications for the sector tomorrow. For a variety of reasons View Details

Not all oil industry segments suffer equally as prices slide

Oil Pro

From EnergyWire -- WORKFORCE: Not all oil industry segments suffer equally as prices slide Pamela King, E&E reporter While dropping oil prices have not brought the energy job market to a standstill, it's far from business as usual. Oil and gas recruiters say they're cautious but optimistic that the industry's workforce will weather the downturn with only minimal layoffs and a slight View Details