TY  - SER
AU  - Dickson,Duane
AU  - Tilghman,Noemie
TI  - The future of work in oil, gas and chemicals: With heightening employment cyclicality and layoffs challenging the industry's reputation as a reliable employer, workforce and business transformation have become a strategic imperative
PY  - 2021///
CY  - 
PB  - 
N2  - The U.S. oil, gas and chemicals (OG&C) industry brought the country to an era of energy security on the back of its nearly 1.5 million-strong workforce. This talent enabled the upstream shale boom and downstream energy renaissance in the country, and the industry in turn rewarded its workforce generously with large paychecks. In fact, the U.S. energy and utility sector had the highest median salary of any industry in the S&P 500 in 2018. However, supply from this boom started running ahead of oil demand. The result? Oil started its longest and deepest downturn in 2014, and the growth narrative changed into mass layoffs of about 200,000 employees between 2014 and 2016. The COVID-19-led lockdowns and the resulting oil price crash to negative levels exacerbated the situation, leading to the fastest layoffs in the industry: about 107,000 workers were laid off between March and August 2020
UR  - https://epplus.hartenergy.com/issue/january-2021/the-future-of-work-in-oil-gas-and-chemicals/
ER  -