People are still trying to do more with less, but layoffs have become a reality for a greater percentage of the drilling industry workforce, according to results from two online surveys conducted on www.DrillingContractor.org, in December 2008/January 2009 and June/July 2009.
“How will the Global Economic Crisis affect you?” was the question we posed to our website visitors. In the first survey, the greatest percentage of responders (39.8%) picked “smaller budget – do more with less,” while only 19.4% chose “loss of job.”
Fast forward six months, and job loss has become the No.1 response to the same question (27.8%), while slightly fewer people picked “do more with less” (26.6%).
The percentage of responders who said that the economy has had “minimal or no effect” went down from 24.5% in the first survey to 16.5% in the second.
Pay cuts also appeared to be on the rise, with only 12.2% of respondents choosing this answer in December/January while 25.3% picked it in June/July.
The percentage of people who have actually received raises during this downturn stayed relatively even – the first survey’s 4.1% vs the second survey’s 3.8%.
Editor’s note: These surveys were not conducted scientifically and are not meant to be representative of the worldwide drilling industry. June-July survey results as of noon 14 July.