UK offshore-related jobs to face more cuts
UK In 2015, around 84,000 employees were laid off, and another 40,000 will be out of work by the beginning of 2017.
“The industry has been spending more than it is earning since the oil price slump towards the end of 2014. This is not sustainable,” said Deirdre Michie, chief executive of the analysis firm. “To survive, the industry has had no choice but to improve its performance.”
Around the world, more than 350,000 jobs have been slashed in the hydrocarbons industry, according to a report released in May by Houston-based Graves & Co.
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