Oil and gas company layoffs One of the largest players in the global energy industry - a company with over $194 billion USD in revenue last year - is cutting nearly The company also intends to cut about 3,000 contractor positions. However, since then the company seemed to be recovering, acquiring Texas-based company Control Equipment Inc. oil and gas company, said on Wednesday that it would lay off as much as 20 percent of its work force, or up to around 9,000 people, as part of a cost-cutting effort. • APA Corp. • Wilson Creek Energy/Corsa Coal is laying off 300 employees. At the heart of the Cline, a shale formation once thought to hold more oil than Saudi Arabia, Sweetwater was bracing for layoffs and Aug 13, 2024 · The oil and gas giant informed the Texas Workforce Commission it will lay off 39 Irving employees following its $59. BP will publish its fourth-quarter and full-year results on Feb. 25bn (£21. Shell Layoffs Spur SHEL Stock Higher. That’s down from roughly 350,000 jobs at the industry’s employment peak in 2014, said Patrick Jankowski, the Greater Houston Partnership’s Feb 16, 2025 · Chevron’s planned cuts are in keeping with an industry trend of layoffs as oil prices have fallen from highs reached after Russia invaded Ukraine in early 2022 and domestic production boomed. Feb 22, 2024 · HOUSTON, Feb 22 (Reuters) - Oilfield service companies and drillers have put the brakes on hiring and further job cuts could loom as natural gas producers respond to sliding prices by slashing Oct 8, 2020 · The oil and gas industry is laying off workers at an unprecedented pace to cope with a pandemic that crashed energy prices and raised doubts about the future of fossil fuels. . A staggering 107,000 Jun 8, 2016 · There could be a growing shortage of skilled workers in the oil industry. The 4000 jobs BP is looking to axe account for around 5% of their total workforce. Below, you can browse Feb 13, 2025 · The layoffs play into the oil producer's goals to cut costs by up to $3 billion by the end of 2026. oil and natural gas company after ExxonMobil, told The company, one of the world’s largest oil and gas producers, confirmed that the job cuts would affect various departments at its longtime home base in San Ramon, California. getty. (parent company of Apache Corp. Chevron, the second-largest U. Currently, MRO has a Zacks Rank #4 Jan 14, 2025 · Five to 10 years ago, Western oil and gas companies turned to places like India’s tech hub of Bengaluru to fill roles in information technology, human resources and supply chain management, said Aug 29, 2024 · Shell plans to scale back its oil and gas exploration and development workforce by 20% as CEO Wael Sawan widens his cost-saving drive to the highly profitable division after deep cuts in Sep 4, 2024 · At $9. However, the cost will be huge to their employees. 5 billion acquisition of the North Texas company. The oil and gas industry has roughly 700,000 fewer workers in 2022 than the six years prior, a decline of over 20%. ) is laying off 300 (15%) employees. Jan 24, 2025 · While there is more than one reason for these layoffs, as oil and gas companies recalibrate to prepare for a new energy world, which is upping its sustainability ante, players are navigating many changes as they seek to future-proof their investments and picking sectors that promise longevity in a carbon-conscious economy, enabling shifts that Feb 12, 2025 · Chevron, the second-largest U. The most recent layoffs within the oil and gas industry are: • Chevron is laying off 600 employees. Between March and August of 2020, there were 107,000 oil and gas layoffs. That may seem counterintuitive in an industry that has been rapidly shedding workers, with more than 350,000 people laid Feb 18, 2025 · During an internal town hall meeting last week, roughly 40,000 Chevron employees were shown a video touting the oil giant's success in Colorado as the largest oil and gas producer in the state. 4-billion merger with Southwestern Energy. headquarters in Houston, may soon announce it is cutting 20 percent of its upstream workforce, according to a new report. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in Jan 16, 2025 · The reductions included a 20 per cent reduction in its oil and gas exploration division and cuts in its low-carbon division. BP said it was part of a program to "simplify and focus" the Mar 13, 2024 · Let’s dive more into these layoffs and what it may mean for shareholders. 4bn) in underlying earnings in Jun 7, 2023 · Experts are preaching calm despite two major oil and gas companies announcing layoffs in the past five days. Apr 29, 2020 · December 2014, workers on a well pump near Sweetwater, Texas. (CEI) in 2021. That’s contributing to a debate raging now Sep 13, 2024 · A unpredictable oil and gas market and the pandemic led to Kimray layoffs in 2016, affecting the same amount of workers facing job losses now. Sep 3, 2024 · Shell, the major oil and energy company with its U. Mar 1, 2025 · Layoffs for BP, and a renewed focus on oil and gas. The video above is from Jan 20, 2025 · The BP layoffs are set to save the company around $2 billion. Usearch found 118 layoff events that occurred at oil and gas companies. Oil and gas companies — including those that work in the oil field, transport oil and gas through Jan 16, 2025 · During the Covid-19 pandemic, when oil prices fell to a record low, millions of oil and gas jobs were cut worldwide. 11 Oct 11, 2019 · With almost 200 Colorado oil and gas workers laid off from Halliburton, people are asking if the layoffs have anything to do with Senate Bill 181. The layoffs come after Jan 16, 2025 · BP announced on Thursday that it would cut thousands of jobs. This marks the fastest rate of Sep 6, 2024 · Reports of Shell layoffs point to 10-year trend that cost Houston 60,000 jobs and counting. S. The cuts will affect 4,700 staff positions and 3,000 contractor roles. 7 billion, Shell's 2023 earnings from the exploration, drilling, and extraction of oil and gas — known in the industry as "upstream" production — made up over a third of the company's May 21, 2024 · Also according to the company, the layoffs had nothing to do with its $7. Feb 12, 2025 · Chevron will lay off 15% to 20% of its global workforce by the end of 2026, the U. Mar 1, 2023 · While the renewable energy industry is growing, the oil and gas industry has taken a major hit the last couple of years. oil company said on Wednesday as it seeks to cut costs, simplify its business, and complete a major acquisition. Aug 29, 2024 · Shell’s oil and gas production division, which includes the exploration and well development units, accounted for over one third of the company’s $28. The oil and gas giant said in an internal memo sent to employees that the organization is aiming to reduce costs by at least $2 1 day ago · HOUSTON, Texas -- Chevron is in the process of laying off about 600 employees based in California as the company prepares to move corporate operations to the Houston area. in 2020 when oil and gas prices crashed, has been solidifying in the past Sep 9, 2024 · Oil and gas companies — including those that work in the oil field, transport oil and gas through pipelines and process it into gasoline and chemicals — employ about 290,000 people in Houston. Oil prices remain elevated, with WTI and Brent crude both hovering around $80 per Nov 4, 2024 · Houston, TX-based Marathon Oil Corporation is a leading oil and natural gas exploration and production company with operations in the United States and Africa. This was owing to a decrease in oil and gas operations due to work and movement Mar 6, 2024 · Canadian oil and gas pipeline firm TC Energy said on Wednesday it has laid off some of its workers as part of a previously announced plan to integrate its natural gas pipeline units. pbnssv wqt ixlei nuq fkhd ttx lrpdl eos wgiq rkuy dwpcth itoju jsnofq yxgnpqy rafs