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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The downturn will run through the entire 2016. It will pick back up in 2017. Keep calm and avoid the layoffs.