The price of crude oil today is $31.87 per barrel. Over the past three months, the price has dropped roughly $16 per barrel.
The oil "crises" for Louisiana has already caused crippling impact upon government services with the state currently in a $750 million budget hole for the current year and $1.9 billion for the next fiscal year, starting July 1.
According to Chevron, “[i]n light of the current market environment, Chevron is focusing its efforts on increasing efficiencies, reducing costs and prioritizing projects in the Gulf of Mexico.” As a result, a total of 385 employees could be laid off, including 45 offshore workers and 340 employees at the following offices:
- 100, 109 and 114 Northpark Blvd., Covington
- 111 Park Place Drive, Covington
- 205 Holiday Blvd., Covington
- 5750 Johnston St., Lafayette
- 200 Galbert Road, Lafayette
Chevron said it will help affected employees find jobs in other Chevron locations and offer severance to those who cannot find one. LWC Rapid Response personnel are in the process of coordinating the delivery of re-employment services with the company, including information on unemployment insurance benefits, résumé and interview skills training and job-searching tools. Affected employees are also welcome to visit their local Business and Careers Solutions Centers.