Overall, oil prices are responsible for 101,383 job cuts so far in 2015. A number of companies, including Chevron Corp. (NYSE: CVX), Halliburton Co. (NYSE: HAL), Baker Hughes Inc. (NYSE: BHI), and Schlumberger Ltd. (NYSE: SLB), have experienced multiple layoff events this year. OK, those are some serious numbers. I think, by now, everyone has given up - since we all capitulated, I'd like to use this opportunity and ring a bell, the downturn is officially over.
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Wishful thinking! It isn't over til it's over. The hatsh reality is that rig count and sales are still going down.
This is great news!!!
Smh
Some said it'll last til 2017