Town hall meetings have been planned so that management can asses the damage and handle the collateral damage accordingly. At the end of their presentations however they will sho on there last slides "But we will continue to work through these challenging times and fyi there will be another round of layoffs because seems to be staying below 49 dollars a barrel. Any questions? Ah yes next round is in April look like we need another billion!"
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Yep the hairs from your balls will be turning grey and falling off.
My theory is that once this round has settled down, and Q3 results come out, the next big 'event' before the end of the year will be the M&A announcement. Then they don't have to feel as guilty for the next round (correctly stated as due in Feb '16), as it can be passed off as the consequence of M&A prep. I feel lucky to have made it through this round, but not to confident of the future. The next 6 months will be interesting and unnerving.