Um, sorry folks, but it may be 50% after all.
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Typical EvilCorp tactics. Start giving people the idea that there will be 50% layoffs and then look like a graceful and magnanimous company when they keep layoffs down to 45%. Or they announce 30% in headcount reductions, and achieve it by gutting one group by 60% and not touch another group at all.
All in all, Exploration is not the place to be right now. The company is going to hunker down, lick its' wounds, maintain the status quo (no exploration) and ride out the trough.
If you're a geologist, get ready. This is Dilbert's BOHICA.
new graduates from school whom COP promised 2014 to hire in 2015
Makes no sense: "COP laid off 1000 and new hired 300."