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Oil crisis: 120,000 UK job losses expected by year-end

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TSR's new app is coming! Sign up here to try it first >> 17-10-2016
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    The downturn in the oil and gas industry will have cost as many as 120,000 jobs in the UK by the end of the year, new research suggests.

    The jobs forecast has been released by the trade body Oil & Gas UK, which says it is “impossible” to underestimate the impact falling oil prices has had on workers and their families.

    In 2014, jobs linked to the sector peaked at more than 450,000. An estimated 84,000 jobs linked to the industry went in 2015, and another 40,000 losses are expected this year.

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