International Journal of Business and Social Science

ISSN 2219-1933 (Print), 2219-6021 (Online) DOI: 10.30845/ijbss

Impact of Employees Layoff on the Job Security in the Oil and Gas Sectors in the Sultanate of Oman
Ahmed Ali Alalawi, Dr. Asif Mahbub Karim, Dr. Nadia Farhana

Oil and gas industries often face significant competition on a worldwide scale and is now undergoing fast and widespread environmental alignment. The worldwide downturn in the oil and gas industry has had a remarkable effect on the Middle East market, and the layoff rate in the oil and gas industry has enhanced significantly. This scenario may have an effect on employee satisfaction and loyalty in the relevant oil and gas industry. Employee loyalty is critical to the growth of the firm's productivity and quality. Employees' primary worry is job security. The concept of security is critical for the employee's serenity in their future profession and for the decrease of all worry forms connected with that future. This lack of work stability and anxiety eventually leads employees to seek ways to escape those feelings and their severe physical and psychological health consequences. The main objective of this paper is to evaluate the impact of employee layoffs on loyalty and job security in the oil and gas industry. It has been found that the majority of responders from the oil and gas industries in the Sultanate of Oman supported the company's employee layoffs and job security. Additionally, according to Pearson correlations coefficient and multiple Regression analysis, a noticeable positive connection can be found within employee layoffs and job security in the oil and gas sector in the Sultanate of Oman.

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