Another 700 oil industry jobs disappear

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More than 700 people working in the oil industry have lost their jobs so far this summer, reports DNB Markets. An overview prepared by DNB’s investment banking division shows that 702 employees, to be exact, were laid off between June and August.

Newspaper Stavanger Aftenblad reported that a relatively conservative estimate indicates that more than 22,000 jobs are now registered as being cut, 17,256 of them full-time positions. The list prepared by DNB Markets is based on the companies’ own accounts reported in to the bank.

The actual numbers can be even higher, DNB noted. On Tuesday, for example, US-based Hallliburton announced it was cutting 113 jobs because of the downturn in the oil and gas industry caused by falling oil prices, most of them at Halliburton’s offices in Bergen. Those cuts came after DNB had compiled its overview.

newsinenglish.no staff