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Expert Analysis

10 Tips For Downsizing Workforces In An Energy Crunch

Law360, New York ( January 22, 2015, 1:06 PM EST) -- The recent decline in crude oil prices has already lead some companies in the energy sector, from Houston, Texas, to the oil patch in Alberta, Canada, to slash budgets and announce layoffs for 2015. The price of oil has plummeted in the last six months, falling precipitously from $103.26 a barrel in July 2014, to less than $50 a barrel in January 2015 — below the break-even price for 37 of 38 U.S. shale oil fields, according to Bloomberg News. So far, major energy players in North America such as Apache Corp., Shell Oil Co., Pemex, Halliburton Co., and Suncor Energy Inc. have announced job cuts in the U.S. and abroad....

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