Thread regarding Chevron Corp. layoffs

With the market's perceived risk of default across the energy space at record highs, it should be no surprise that willingness to lend (even for the greater-fool reach-for-yielders) is collapsing. As Bloomberg reports, oil services companies are finding alternative ways to raise cash and repay debt after falling crude prices has made it difficult for them to get funding from traditional sources. As one restructuring firm warned, "bond markets are closed for these companies, especially small ones, and banks may not be lending to them at this stage," with another ominously warning, "getting new liquidity in this market could be a painful exercise. For many companies, financial restructuring seems inevitable." http://www.zerohedge.com/news/2015-09-24/shale-partys-over-closed-bond-market-means-restructuring-inevitable