Mexico’s state oil firm Pemex is planning more than 10,000 layoffs, and the jobs cull is already under way, according to Prensa Latina.
Internal company documents reveal the huge reduction in personnel, sure to include workers involved in offshore operations, is necessitated by the company’s poor performance, its growing debt and the general decline of energy prices.
There will be 10,553 jobs dumped in this wave of layoffs. The current workforce numbers 142,976 and that is already down by 10,109 from the staffing level of late 2014.
Last year Pemex slashed its budget by $4.16bn. In 2014 the Mexican government started energy sector reforms that have seen Pemex lose its monopoly on oil production and private firms, including foreign ones, have been allowed to bid on oilfield rights in Mexican waters.
