Reported 1 day ago
International oil and gas firms are set to reduce their workforces by tens of thousands in 2024 and 2025, driven by falling oil prices and ongoing mergers and acquisitions. Major companies like ConocoPhillips, SLB, Chevron, BP, and others have disclosed plans for significant layoffs, with percentages ranging from 10% to 25% of their total workforce. This trend highlights a challenging economic landscape for the industry amid increased output from OPEC+ and uncertainties in global trade.
Source: YAHOO