Oilfield layoffs are picking up steam once again as energy companies try to recover from a deep industry downturn. The oil and gas industry, providing a myriad of services such as drilling and fracking, is now being tested by the recent plummeting prices of oil as well as a slow down in drilling due to pipeline shortages. This, along with the remaining effects of the 2014 oil bust has caused customers to tighten their belts when it comes to spending.
Tens of thousands of oilfield layoffs have occurred as many big-name oil and gas companies, such as Halliburton, have seen their stock market values plunge. Companies are struggling and have resorted to reducing their North American workforce in order to cut costs. As a result, many oilfield workers have been paid incorrect overtime rates, or have been wrongly misclassified as overtime exempt.
If you or anyone you know has recently been a part of one of these oilfield layoffs, they should ensure they are recovering all of their potentially owed monies as they exit the company. Some oilfield companies that are seeing major layoffs include but are not limited to:
- National Oilwell Varco Inc.
- Whiting Petroleum Corp.
- Weatherford International
In order to verify you are receiving all you are owed, schedule a free consultation with a labor attorney who will help review your recent layoff. Fitapelli & Schaffer, LLP has had extensive experience in the oil and gas industry and is committed to recovering potentially owed wages for all of the hard-working employees they represent. You can reach one of our available labor attorneys at (212) 300-0375 for a confidential consultation. It may be beneficial in determining if you have received everything you are entitled to during your layoff. You can also find additional information on our website.