Laid Off Workers Say “No Thanks” to New Oil & Gas Jobs

cutting jobsOne of NGI’s ace reporters, Carolyn Davis, got her hands on a new report/survey conducted by Evercore ISI that looks at attitudes and behaviors of displaced workers in the oil and gas industry. The results are quite interesting. You may recall that something like 300,000+ o&g workers were laid off over the past several years. Many of them worked for oilfield services companies (OFS), like Halliburton, Baker Hughes and Schlumberger. In fact, our back-of-the-envelope tally says the vast majority of those layoffs came from just a handful of companies, namely those three. The Evercore survey found that many (most?) workers are not returning to the oil and gas industry, now that hiring has begun again. And that’s a problem. It means that there aren’t enough bodies to do the work. It seems the laid-off workers didn’t appreciate getting canned, tossed overboard like a piece of trash at the first sign of trouble–and many of them have gotten jobs in other industries. Who can blame them?! Here’s a few highlights from the survey…

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