Oil companies slash jobs by the thousands as prices fall, tariffs rise and industry consolidates
1. U.S. oil companies face layoffs due to falling crude prices. 2. Job losses in the oil sector reached 4,000 this year through August. 3. Crude prices have dropped 13% as OPEC+ increases supply. 4. Major oil firms announced significant workforce reductions after consolidating. 5. Hiring in the energy sector is down 90% compared to last year.