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Tumbling oil could take thousands of jobs with it

2014-12-13 05:12:54| Oil & Gas - Topix.net

Bad news already started to flow this week: Halliburton affirmed that it plans to cut 1,000 positions due to the depressed oil market, and BP announced an unspecified number of layoffs as part of a $1 billion restructuring plan. On Monday, ConocoPhillips became the first major U.S. oil company to reveal that it is slashing spending for 2015, a decision the CEO asserted was "prudent given the current environment."

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