A concerned Chinese investor walks past a screen displaying prices of shares (red for price rising and green for price falling) at a stock brokerage house in Hangzhou city, east China's Zhejiang province, 8 December 2015. Credit: Imaginechina / AP Images

Layoffs, bankruptcies, falling demand and massive stockpiles. After three years of record American oil production, a gloomier reality is taking hold in the energy and mining sectors as commodity prices slip, The New York Times reports.

American oil companies have idled roughly 1,200 oil rigs, or more than two-thirds of the total in the U.S., since late last year, prompting layoffs for thousands of workers in North Dakota, Texas and elsewhere, according to the Times.

And mining companies are hurting, too. Mining giant Anglo American earlier this week slashed its workforce by 60 percent, or about 85,000 jobs; suspended dividend payments and cut capital expenditures.

The pain is tied in part to China’s economic slowdown. Weakening demand from China, the world’s leading economy, coupled with a supply glut, has upended the commodities market.

Jennifer Gollan

Jennifer Gollan is a reporter for Reveal, covering labor and corporate accountability.

An Emmy Award winner, Gollan has reported on topics ranging from oil companies that dodge accountability for workers’ deaths to lax manufacturing practices that contributed to deadly tire blowouts.

Gollan uncovered rampant exploitation and abuse of caregivers in the burgeoning elder care-home industry. The series, Caregivers and Takers, detailed how operators enriched themselves while paying workers about $2 an hour to work around the clock. The stories prompted a congressional hearing, plans for prosecutions and new state legislation. 

Gollan exposed how Navy shipbuilders received billions in public money even after their workers were killed or injured. In response to her reporting, Congress passed a new federal law, the Government Accountability Office produced a report and the Pentagon began scrutinizing the safety records of more defense contractors.

Gollan’s work has appeared in The New York Times, The Associated Press, The Guardian U.S., Politico Magazine and PBS NewsHour.

Her honors include a national Emmy Award, a Hillman Prize for web journalism, two Sigma Delta Chi Awards, a National Headliner Award, a Gracie Award and two Society for Advancing Business Editing and Writing Awards. She has been a finalist for an ONA Online Journalism Award, an IRE Award and two Gerald Loeb Awards. Gollan is based in Reveal’s Emeryville, California, office.