layoffs

The decision to cut jobs comes after reaching a union deal with its workers.

Royal Dutch Shell announced on Wednesday that it is planning to cut between 7,000 and 9,000 jobs worldwide by the end of 2022 as a result of a collapse in demand for oil and the subsequent dip in oil prices amidst the coronavirus pandemic.

Unstable financial markets and concerns over COVID-19 have prompted the actions in which about 70 people will lose their jobs.

Lafayette-based MidSouth Bank is expected to lay off 90 workers, that according to a notice on file with the Louisiana Workforce Commission.

Gas prices are edging back up, but will it be enough to stop layoffs in the oil and gas industry?