2. Video http://www.wsj.com/video/falling-oil-prices-hit-small- time-producers/F84B1512-604C-47CC-8E2E- F845FD100C35.html http://www.wsj.com/video/falling-oil-prices-hit-small- time-producers/F84B1512-604C-47CC-8E2E- F845FD100C35.html

3. Issues at Hand Declining oil prices are hurting small oil companies in the US. Due to new drilling technologies and foreign suppliers- supply and demand Entire towns are suffering. Oil keeps people in work, which allows them to act as normal consumers. Even non-oil companies are suffering.

4. Stakeholder Analysis

5. Layoff Decisions When to make the choice Market forecast Consideration of employee morale How to approach layoffs

6. Long-Term Repercussions What happens when you shut down wells? Disrepair Competitors Decreased mineral deposits

7. Layoffs: Just Business Layoffs may be necessary to survive competitive & economic pressures. Can be devastating to those affected when handled improperly. Lingering negativity can impair remaining workforce.

8. Change Management Principles Good communication: before, during, after Deliver news personally and respectfully Outplacement support Don’t neglect the survivors

9. Discussion 1.We all rejoice when gas prices go down, but considering that people are losing their jobs because of this change in the market, how do you feel about it now? Would you be willing to pay $3 a gallon to ensure that these people can continue to work these jobs? 2.Put yourself in the shoes of these business owners. How would you approach this situation and handle layoffs?