Consol Energy recently announced it won’t drill any new gas wells for the next year and a half amidst a net loss of more than $600 million in the second quarter. Range Resources has announced it plans to reduce its workforce by 11 percent.
The cuts seem to be spreading industrywide. Energy company Chevron plans to slash more than 1,500 jobs, while Halliburton recently announced it was shutting down an office in Indiana County amidst a push to eliminate 6,000 jobs companywide.
A recent report in the Wall Street Journal didn’t paint a better picture; the publication said more than 50,000 energy jobs have been lost in the past three months.
Western Pennsylvania has for several years been at the heart of the Marcellus shale boom, and the downturn in the market is being felt here, too.