For the poster below who referenced 2014, I can say that 2015 will be MUCH worse - if the prices continue to drop ALL oil companies will react by cutting staff, that's a given, so wait until 2015 as layoffs and RIFs always lag the price drops.
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Everyone is doing it, SLB is first and others will follow. Good luck and God bless
2015 Layoffs are more or less a given thing, with prices dropping we will simply have to cut
We'll be just fine, the price will recover, the current level is not sustainable...
Tipping point indeed
I think we are reaching the point where we'll see some significant cuts in labor - things are slowing down, it's palpable... Many competitors are also gearing for layoffs, it's boom and bust mentality that we cannot get rid off. I am in Houston, people here are panicking as all of this came totally out of the left field.
What locations?