Piff Poff

Halliburton have apparently announced 15% lay offs, announced on the radio the other day.

Steve_

I think that's an overly pessimistic view, the European economy will recover before then and demand will go up and I can't see OPEC hanging on that long either as some of the members are in dire financial straits already.

My guess is it will be 18 months, tops, before prices start trending upward again.

But anyway, a lot of people live on camp in Fort Mac so cost of living shouldn't be that huge of an issue.

oilengineer

Perhaps the oil price may well recover back to $70/barrel next year but following the recent sudden restructures and job shedding that went on inside most organisations, there may be no big hiring sprees coming our way any time soon. if you have still a job in the oil industry right now hang on to it. Chances are most companies will run with their new "leaner" business models and "flatter" organograms for quite some time to come. Before it gets better, its going to get worse according to what the experts predict.

cbrown89

Calgary market hires and fires with the cycle, no loyalty over here between employers and employees for that reason.

xxdb

Hope you're right because otherwise Alberta won't be as pretty a place to come to as it has been.

Nikki Ian

Well i have just got back from seeing some clients in the oil patch,

This week they have been laid off, they say its happening each week, and this is skilled management with 15 plus yrs in.

From what some are saying, mexico is going to get very busy over the next few months with oil patch workers getting drunk in the sun while they work out what to do next.

In the last two weeks quite a large number of my key clients have shed thousands of jobs at all skill,management levels in the oil patch on top of cutting millions from their capital budgets.

bigshark

I got a friend that works for one of Canadas biggest construction companies and she said that one of their biggest pipe laying contract is on hold and are scaling back operation at the minute (since december) due to the current market, and it may be for a while...

Steve_

But you'd have to get a Class 1 licence first presumably.

Boneyboy

It said on the news this week that 3,500 have already lost their jobs in Alberta and another 21,000 in business's connected to the oil sands will be. All major new projects have also been put on hold indefinitely.

cbrown89

The large operators are shedding contractors and keeping most staff.
Small operators with lots of debt and high op costs are going under.
EPC & Vendors are shedding contractors and staff is the masses, I suspect I will be claiming EI soon enough.

neilcumming

I was thinking of working in or around the oil sands this summer but not looking good.