Thread regarding Baker Hughes Inc. layoffs

A hiring and pay outlook survey shows that 35 per cent of oil and gas companies expect a deterioration of the business that could lead to further staff cuts. There was deep pessimism among oil and gas company employers as they look to 2016, with almost 18 per cent saying they may lower pay during the year. About 42 per cent said salary increases are not likely. The survey found employers were noting declining morale and burnout among people who remain on the job. Half of employers said they don't expect to hire in 2016. Overall, 2016 will not be a good year for the oil and gas industry.