Houston, Texas-based Apache Corporation, a oil and gas exploration and production company, continues to execute their reorganization which they characterize as a corporate redesign to “rightsize” the enterprise. This includes a reduction in force, with approximately 85 employees located in Midland, Texas.
A company spokesperson noted, “We are lowering our Permian rig count to zero and focusing capital elsewhere in our portfolio and, as a result, have made the difficult decision to further reduce staff. The rightsizing is a recognition that we will not be returning to past levels of capital activity and need to make a permanent reduction in headcount.”
There has been widespread market disruption with significantly lower oil and gas prices as competitors seek to fulfill the spot market demand at lower margins.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?