For many oil gas workers both in the U.S. and around the world, the current oil price malaise may mean layoffs and struggling to find a new job. A new report from the Hayes Group highlights the challenges in the sector. The report found that 93 percent of employers had already made some headcount reductions, and 32 percent of responding workers indicated they had been laid off or made redundant.
Of that group, fully 72 percent were considering work outside the oil sector. The report was actually compiled in November before the most recent downward leg in prices so its conclusions are probably even more applicable today.