Bloomberg – More than 10,000 people working at Mexican oil service companies have been laid off as state-owned Petroleos Mexicanos cut contracts in the face of the global slump in crude prices. More job losses are expected.
Most of the companies are based in Ciudad del Carmen, on the Campeche Bay in the Gulf of Mexico, and were told last week that contracts wouldn’t be renewed with Pemex, as the world’s ninth largest oil producer is known.
Job losses could rise to 50,000, Gonzalo Hernandez, secretary at the Ciudad del Carmen Economic Development Chamber, said in a phone interview.
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