Bloodletting in the U.S. Pipeline Industry

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Bloodletting in the U.S. Pipeline Industry

Tue, 04/05/2016 - 09:35
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Bloodletting in the U.S. Pipeline Industry (© Mario Savoia / Shutterstock)
Bloodletting in the U.S. Pipeline Industry (© Mario Savoia / Shutterstock)

The protracted low price oil/gas environment is beginning to take its toll on the pipeline industry in the United States, with some companies laying off workers by the hundreds.

Baker Hughes, Halliburton, Range Resources and Williams are all moving to reduce their overhead costs. While the exact number of those being made redundant is not known, it is estimated that, in Williams' case, that 10 percent of the workforce, or nearly 700 employees, will be affected. Baker Hughes has already let 7000 thousand of its workers go during the course of 2015.

Williams said the layoffs will take place across the North American continent.

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