The expats are returning home to unemployment.
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My guess (for what that's worth) is that Ex-pats will stay put if their position is absolutely business critical (that's why you're there!). If not, look for many ex-pats to be repatriated due to the huge cost. The risk is that if you're position ISN'T business critical, and there's no room for your skill/experience set back home, you may be left standing when the music stops.
As for Australia, ABU-East is still humming along and can't slow down until first delivery of the two LNG trains over the coming 6-12 months. I'd wager cuts there would be low. ABU-West may be another story, but I'm not familiar with their assets. Good luck to all!