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Shell latest oil company to cut Gulf employees

Shell announced plans to cut nearly 200 jobs in its Gulf of Mexico deepwater operations
  • Shell announced it would cut nearly 200 jobs from its Gulf of Mexico deepwater operations, just after other energy-based companies such as ConocoPhillips and Schlumberger announced cuts.
  • Houston's job growth slowed to 0.2 percent over the past year compared with 1.5 percent in the state of Texas.
  • Houston's unemployment rate increased annually in May to 4.8 percent.

The Houston job forecast has been grim as of late, and unfortunately for some industries, the bad news only gets worse. Shell recently announced that it would cut 190 jobs from its Gulf of Mexico deepwater operations in order to remain "competitive and better position Shell's Gulf of Mexico projects for future growth," according to a statement to the Associated Press by Shell spokeswoman Kimberly Windon. The company reportedly is planning to shed 2,200 jobs globally, and this move will cut both contractors and staffers. This trend isn't new for an oil industry that is seeing jobs being eliminated left and right over the past 18 months. Just earlier this July, Houston-based ConocoPhillips announced a plan to cut 1,000 jobs company-wide and hundreds in Texas. Other energy-based companies in Houston, including Hilliburton Co. and Schlumberger, also made announcements that staff would be cut. Analysts do believe that the worst is behind the oil and energy industry, which s...