There are still no clear answers how the market will play out for 2015 for both field service and professionals in engineering and geoscience, but some expected reactions are coming exactly as expected. The overall decline for field service workers has declined nearly 45% over the last three months and needs for engineering, geoscience and technical professionals for service and operating companies as declined over 38% in that same period of time.
For the individuals on the service side, this will not be news as the approximate numbers for the big three (Halliburton, Schlumberger and Baker Hughes) have cut 22,000 jobs over the last three months and there is no certainty whether or not that has hit bottom. With Houston feeling the largest balance of reductions among service companies, operators and consulting, the harder hit markets for the actual service/field staff is occurring in South & West Texas and North Dakota. Related industries in many of these areas are also feeling the pain with significant reduction in Construction for all three sectors; Commercial, Industrial and Residential. Many of those projects are already in mid-process and mulit-family residential will be the hardest hit in the quickest time as there will be less workers to house than the expectations that had been set forth two or three years ago. The largest cuts in the Houston market are not for the functional positions as they are for the administrative, IT and non-technical roles that exist to support operations. One specific segment of these types of individuals that are being hit the hardest has been for positions that support international development & operations. Where Houston is seeing some growth has been on the downstream segment with petrochemical plants seeing better profit margins with reduced feedstock pricing and has had significant growth in hiring retirees, managers and non-union staff to support both the growing needs as well as supplement the loss of manpower for the major plants that have been on strike for more than five weeks.
About Kaye/Bassman Founded in 1981, Kaye/Bassman has grown to become the largest single-site executive search and recruitment firm in the United States with the simple mission of impacting companies and enhancing careers by providing the finest in professional, executive, technical and scientific search. Kaye/Bassman provides strategic recruiting and executive search solutions in over 20 industry practice areas including construction recruiting, healthcare recruiting, banking executive search, energy recruitment and many more. Next Level Recruiting Training, a recruiting training organization, Next Level Exchange, a recruiting training best practices information exchange, and Next Level Marketing Communications are also Kaye/Bassman companies.
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