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Tag Archives: job cuts

Shell to cut at least another 2,200 jobs globally

Shell expects 4th Q profits to drop at least 40 percent

LONDON (AP) — Anglo-Dutch oil company Royal Dutch Shell says it will trim at least 2,200 jobs globally amid challenging times in the oil industry. The losses are in addition to cuts already being implemented because of the energy company’s merger with BG. The losses will include some 475 positions in the North Sea. Oil companies around the world are ...

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Chevron announces more Houston job cuts

Chevron announces more Houston job cuts

Chevron plans to cut 655 Houston jobs as part of a payroll decrease across its upstream business. The California-based company confirmed the layoffs Thursday. Chevron previously stated it would cut its workforce by 4,000 this year. In 2015, The oil major reduced its workforce by 3,000. The total estimated cuts made up about 10 percent of the company’s workforce at ...

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Facts and figures show the impact of low oil prices

Lonely gas station with palm tree

The impact of sharply lower oil prices is being felt around the globe. Oil-dependent countries are trying to mend busted budgets. Oil companies are cutting production and workers. While consumers in some countries enjoy lower gas prices, elsewhere consumers are paying higher food prices due to declines in the local currency. Some facts and figures to explain the regional impact: ...

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TransCanada announces new layoffs as crude slump persists

CALGARY, Alberta – Pipeline company TransCanada Corp has announced new job cuts, as slumping oil prices continue to take their toll on its customers, a spokesman said on Wednesday. TransCanada and other energy companies based in the oil-rich Western Canadian province of Alberta have been hammered with thousands of layoffs in recent months due to the slumping global prices. TransCanada, ...

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Caterpillar to cut thousands of jobs

Now may be a good time for Caterpillar employees to look for other employment. According to a Ledger-Enquirer report, the Peoria, Illinois-based construction and mining equipment manufacturer announced budget cuts that result in a 5,000 jobs cut by the end of the year and as many as 10,000 jobs cut by 2018. The company’s 2015 revenue outlook took a $1 ...

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Chevron lays off 56 local employees

Chevron USA Inc. announced Wednesday that adverse market conditions have prompted it to lay off 56 workers in the San Joaquin Valley, or 3 percent of its Bakersfield-based business unit. The move adds to the 1,200 or more oil-related jobs lost in Kern County since late last year as oil prices have fallen to below $45 per barrel from more ...

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The stock market is kicking Consol’s butt

The stock market has not been nice to Consol Energy Inc. Just this year, shares in the company are down 57 percent.  On Wednesday, Consol began trading at $14.16 per share, which is down $19.65 when compared to its opening price on January 2nd.  After running into a 52 week low, the company managed to recover by the end of ...

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Ex-oil hand turns to crime during slump

arrested

Its still hard times for roustabouts and as some have taken to other fields of work, one Texas man turned to the black market of human smuggling for cash. According to court records obtained by Breitbart Texas, Brandon Lee Gamez was recently arrested near Freer, Texas. Federal prosecutors claim he drove a truck down a rural road known for drug ...

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