You are here

Lost generation of oil workers leaves few options for next boom

Companies today are more judicious with layoffs as they try to keep seasoned technical staff

TALENT DROUGHT: The wave of retirements comes as the oil sector is already bleeding talent. Worldwide, oil and natural gas companies have cut more than 350,000 jobs since prices started to fall in 2014, a report by Graves & Co says.

New York

THE oil industry is fighting a generation gap.

Already contending with a global price slump, US explorers are also grappling with the demographic hangover of the last great industry downturn in the 1980s, when scores of drillers went out of business. That rout drove a