I have 2 sons who are engineers within the oil industry, a consulting engineer and the other a reasonably senior manager.
5,000 miles apart but both are involved in cut backs - maybe 25% job losses in one company and probably more in the other and that assumes oil prices rise soon.
The US based son has seen his department capital expenditure (15% of the worldwide capital expenditure budget) cut from $3m / day to roughly $2m / day and that was 2 weeks ago - further cuts are bound to follow with prices in free fall. Major lay offs of contractors and company staff to follow soon.
Redundancy, early retirement will take some of the numbers but they cleared out many 55+ year olds a few years back so not so many left - so 50+ might be the next lot.
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