According to a recent report from Swift Worldwide Resources, over 150,000 jobs in the global oil and gas industry have been cut since oil prices began to tumble last summer.
With rig counts continuing to slide and no end in sight to oil price volatility oil and gas companies are playing it safe and curbing hiring plans.
According to a survey conducted by Rigzone, 51 percent of global hiring managers said they have slowed down hiring efforts during the past three months.
Another 13 percent of respondents said they have implemented recruitment freezes this quarter.
Oil and gas industry workers have been especially hard hit by falling oil prices and plummeting rig counts.
According to the survey, 54 percent of global hiring managers said they think job cuts are more likely within the next six months while 65 percent of mangers expect headcount budgets to shrink in 2015.
Nearly 70 percent of global hiring managers said they expect the number of voluntary departures to fall during the next six months.