© 2024 KGOU
News and Music for Oklahoma
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Declining Oil Prices Forcing Industry To Cut Jobs

An oil well near a neighborhood in Yukon, Okla.
Becky McCray
/
Flickr Creative Commons

Declining crude oil prices have forced three major industry firms with strong northeastern Oklahoma ties to lay off workers.

The Tulsa World reports that Apache Corp., Baker Hughes and Schlumberger have begun laying off employees in response to the oil price crash in the past six months.

Two weeks ago, Denver-based producer SM Energy announced it would close its Tulsa office, which employs 100 people.

Apache Corp. has announced across-the-board job cuts that will likely impact several hundred employees companywide and at least some in Tulsa. The Houston-based oil and gas producer is one of the nation's bigger independent firms.

Houston-based oilfield service firm Schlumberger is letting go of 9,000 employees and would not say whether the layoffs will directly affect workers at its Bartlesville plant.

------

KGOU relies on voluntary contributions from readers and listeners to further its mission of public service to Oklahoma and beyond. To contribute to our efforts, make your donation online, or contact our Membership department.

The Associated Press is one of the largest and most trusted sources of independent newsgathering, supplying a steady stream of news to its members, international subscribers and commercial customers. AP is neither privately owned nor government-funded; instead, it's a not-for-profit news cooperative owned by its American newspaper and broadcast members.
More News
Support nonprofit, public service journalism you trust. Give now.