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Oil boomtown: 'We could see 20,000 layoffs by June'

From money.cnn.com

Oil prices have been sinking for months. And while that's good news for most Americans, what happens to towns like Williston, N.D., that have built an entire economy around the oil industry? The drop in crude prices, while beneficial for drivers, has already cost thousands of oil jobs. Schlumberger (SLB) was among several companies to take a hit, laying off 9,000 people last week. "They said things aren't good, that oil prices are low, and they aren't going to be drilling as many wells," said John Roberts, who was recently laid off as a crew van driver for Schlumberger. "They gave me 24 hours to leave my house." ... (full story)

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