Cheap oil prices chop jobs by thousands

March 31, 2015 10:36 PM

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Planned oil industry layoffs in the U.S. are approaching 100,000 in the past four months with more likely to come.

Oil-producing states like North Dakota, Texas, Oklahoma and Louisiana are catching the brunt of the cutbacks just as consumers are enjoying cheaper gasoline prices brought on by the 55% drop in crude oil prices since last June.

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