Oil Company What was once a mere warning to the oil industry has now become a reality: the severe cost cuts undertaken by virtually every oil and gas business in the world has created a serious workforce shortage, with massive layoffs pushing skilled workers into new lines of work. This is a snippet of what oil industry layoffs looked like earlier this year, compiled from various sources. This is not a complete list, and includes only some of the biggest players in the energy field: (Click to enlarge) On a global scale, the overall number of job cuts in the oil and gas industry reached around 350,000 , according to a report from Graves & Co. That was in May, when prices had recovered somewhat. Oil prices have since risen to above $50, and not just because of OPEC’s agreement to cut production. Energy businesses, especially in the shale […]