I case you had any confidence in Pioneer leadership...
"University of Texas at Arlington found that layoffs had a neutral to negative effect on stock prices in the days following their announcement. The study also discovered that after layoffs a majority of companies suffered declines in profitability, and a related study showed that the drop in profits persisted for three years. And a team of researchers from Auburn University, Baylor University, and the University of Tennessee found that companies that have layoffs are twice as likely to file for bankruptcy as companies that don’t have them.
All too frequently, senior managers dismiss such findings. Some argue that since companies do layoffs because they’re already in bad shape, it’s no surprise that their financial performance may not improve. Layoffs are so embedded in business as a short-term solution for lowering costs that managers ignore the fact that they create more problems than they solve." - HBR