No actual useful info on here in a week. Are we in the clear? Maybe it won’t be as huge as we think it is.................
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This is just the beginning of the end. Be prepared. The oilfield is going to sh*t in a hurry. Seen this before.
https://www.google.com/amp/s/seekingalpha.com/amp/news/3554736-halliburton-to-cut-2020-capex-below-1_2b-budget-cfo-says
The furloughs were an attempt to cut costs, like cutting overtime and travel expenses. This is a short term fix because no one knew what would happen next. Let’s remember these decisions are not decided in a day this was probably the plan based solely on the pandemic. But with the OPEC issue they do understand that and that will be treated like 2015, so you can sure as heck expect massive layoffs because customers are dropping like flies.
Furlough would be a blessing in disguise with what's going on out there. Another poster said it best in another thread. Layoffs are definitely continuing though everywhere else.
I don't think they can afford the bad or with how the stock is so they won't layoff hundreds at at one time. That's really why they haven't done true mass layoffs already. Someone else said it too but at least where furloughs are at people WILL drop simply due to attrition.
There are layoffs but it’s not mass layoffs. It’s a handful at a time. They aren’t gonna furlough everywhere. Some portions of the company are still busy. I think it’s going to be small batches of layoffs each time. Not like 2015 where they let go 1,500 people in a day. We are already lean compared to back then. Also, Regardless of oil prices companies still need our stuff. Sure, less of it now. But they aren’t about to lay-off half the company like some id–ts are saying on here.
Layoffs are going on during furlough, in case you didn’t know.
Furlough is only being tested at NB. It’s coming to your location soon.
So they are gonna furlough everyone in Houston starting today, and then in a week they are gonna lay-off company wide? That doesn’t pass the sniff test. Why do both?
March 30th
Yeah keep telling yourself that!
Maybe the temporary furloughs really are being used to save EVERYONES job?