Layoffs are still happening, Halliburton seem to be destroying the PSL TSS, I'm in the UK and everyone I know from TSS in the UK or States has been chopped. I don't believe for one minute that these layoffs have anything to do with oil prices, I think it's to do with the Baker acquisition. Also I don't believe it's only been 9000 layoffs, I've heard it's more like 17000 now
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Carrollton hit hard today.....more tomorrow.
I don't think so. Q2 will see the peak of the market downturn....and bear in mind BHI integration slowly coming in as well...expect 2nd waves coming by June.
pre merger layoffs, then after merger consolidation and additional layoffs, then selling off assets...thats economical logic...step by step.
Yes, the business appears to have settled to a sustainable level and a restructure accomplished at the same time. Glory Hallelujah brother. Is it sustainable going forward? Articles appearing on line suggest another bump in the road ahead. http://fuelfix.com/blog/2015/05/12/eia-u-s-shale-set-to-fall-again-in-june/#30727101=0EIA: U.S. shale production set to fall again in June. U.S. shale production growth will fall 86,000 barrels per day next month, the U.S. Energy Information Administration estimated in its monthly report, more evidence the nation’s oil boom is in decline. The EIA’s monthly forecast is the second in a row to project an overall decline in domestic production growth. But hey, on a much brighter note. Kohl's beats 1Q net income expectations! misses revenue forecasts. The Menomonee Falls, Wisconsin-based company said it had profit of 63 cents per share. The results beat Wall Street expectations and Wall Street now has to cope with learning to pronounce Menomonee. And, by the way, there is a sale on at Penny’s.
I would be willing to bet good money that June there will be another round to finish off the 2nd quarter. If not, the first part of July. The reason for that would be to help get a good start for the 3rd. Who knows though....
That appears to be the case handsome, which is a good sign. Worse though is lack of demand for your product? Which could be any of several reasons. Anyone care to offer any reasons for that?