30$/ bbl Oil is causing havoc in the industry. In my company the layoffs come in groups of 20-30.
They call you in for performance reviews and remind you to bring your laptop. The managers send out emails filled with doom and gloom; citing reorganizing which read like eulogies for our comrades.
My roommate got the axe last week. Unemployment sucks for him. He is in the black hole of job hunting.
The boomtown of Lafayette, LA is contracting fast. For sale and for rent signs are popping up all over town. People who bought houses and trucks during the boom are seeing the possibility of sale or foreclosure.
I have seen 2 mudloggers and 2 Data Analysts fired in my 9 months on the same boat. Thankfully the boat I am on just signed another contract for 2 more years of drilling. We also got end of well bonuses.
I try and stay away from the news about the downturn. Entering the industry I knew that the job is boom/bust. It’s folly to listen to the wall street guys about the price/barrel. My job is in the air for now.