Tag Archives: workforce

Exelon to Retire Illinois Nuclear Plants Early

Exelon Corporation will shut down the Clinton and Quad Cities nuclear plants June 1, 2017 and June 1, 2018, respectively. The two plants have lost a combined $800 million in the past seven years, despite being two of Exelon’s best-performing facilities. Exelon cited lack of progress on Illinois energy legislation as a major contributor to the decision. While the Illinois legislative session has not ended, the path forward for consideration of the Next Generation Energy Plan legislation is “not clear.” “We have worked for several years to find a sustainable path forward in consultation with […]

Baltimore Gas and Electric Continues to Accelerate Natural Gas Infrastructure Replacement

May 2016, Vol. 243, No. 5

Baltimore Gas and Electric (BGE)  continues to modernize the natural gas system serving customers in central Maryland, replacing more than 52 miles of gas mains in the first two full years under the company’s Strategic Infrastructure Development and Enhancement (STRIDE) plan. Another 45 miles of gas mains are projected to be replaced this year as the company continues to accelerate its gas equipment replacement program following passage of Maryland’s STRIDE law in 2013 and the Maryland Public Service Commission’s approval of the plan in March 2014. “Our STRIDE plan enables us to begin work on more […]

50,000 Laid Off In Saudi Arabia As Oil Crisis Bites Deeper

May 2016, Vol. 243, No. 5

Saudi construction giant Binladin group has laid off tens of thousands of workers, leading to rare protests, as workers torch seven buses demanding compensation as low oil prices begin to bite in earnest. The numbers of layoffs range from 50,000 to 77,000, many of who say they were not paid for several months. Binladin group, which last year had all of its contracts frozen after a crane fell over the Grand Mosque in Mecca, killing 107, denied that it owed its workers any compensation. The company said the layoffs were a “routine” adjustment to a […]

Adjusting to Life – and Leaner Wallets – after Gas Boom

April 2016, Vol. 243, No. 4

TOWANDA, Pa. (AP) — Jami Patel spends long hours behind the front desk of a nearly empty motel, desperate for someone, anyone, to check in. Hardly anyone ever does, not since the once-booming natural gas industry pulled up stakes amid a prolonged, severe slump in energy prices. “I don’t know how much longer I can hold on,” lamented Patel, 43. “If it continues like this, the business is going to be dead.” That’s the last outcome Patel would have envisioned after she and her husband spent more than $1 million on renovations a few years […]

Once Wedded to Oil, Houston Economy Carries on Despite Bust

March 2016, Vol. 243, No. 3

HOUSTON (AP) — Amanda Salazar watched for a year as colleagues at the Houston-based oil rig manufacturer where she worked lost jobs, victims of the latest oil bust. She realized it was time for a change before she too got a pink slip. So Salazar left her job as a software trainer with National Oilwell Varco for a similar position at a hospital. Even if the oil market turned around immediately, she reasoned, it might take 18 months before the industry picked up again. “And that’s a long time to be sitting at work wondering if you’re going […]

As Oil Slides, Many Determined to Stay Put in North Dakota

February 2016, Vol. 243, No. 2

WILLISTON, ND (AP) — Kennedy Mugemuzi is done moving. After leaving Congo to live in Nashville for a few years and then coming to North Dakota for the opportunities of the oil boom, he is among the many staying put in Williston — even though depressed crude prices have spurred an exodus of thousands of drillers and others seeking new prospects elsewhere. The epicenter of western North Dakota’s oil patch still teems with newcomers like Mugemuzi, who are opting to remain where they are in a still-strong economy instead of starting over somewhere else, or returning to […]

Weatherford to Reduce Workforce Further in 1st Half of 2016

February 2016, Vol. 243, No. 2

Oilfield services company Weatherford International will cut 6,000 positions in the first half of the year, which accounts for about 14% of its workforce. In a written statement, CEO Bernard Duroc-Danner said he believes oil prices will eventually respond to a realignment of supply and demand, but “regardless, we have geared the company and will increasingly do so for a prolonged period of very low activity.” The company said it lost $1.2 billion in profits during the fourth quarter, while revenues fell 46% to $2 billion. Weatherford also plans to shut down nine manufacturing plants. […]

Schlumberger to Cut 10,000 More Jobs after Bad 4th Quarter

January 2016, Vol. 243, No. 1

HOUSTON (AP) — Schlumberger said Thursday it lost more than $1 billion and slashed another 10,000 jobs in the fourth quarter as tumbling energy prices took their toll on the world’s largest oilfield services company. Like others in the industry, Schlumberger has been hard hit by the downturn in the energy sector and it warned that it doesn’t expect a turnaround soon. It said it streamlined costs and cut 10,000 jobs during the last three months of 2015 “in anticipation of extended activity weakness in the first half of 2016.” The company, which has principal […]