Given the situation of world oil supply, the situation in North America and now another 4+ months of wait for merger, after 13 months of waiting, I strongly believe that layoffs are inevitable. If my statement is true, I am no expert, the layoff should happen before end of the year.Question is how many, what percent and where, when? Your thoughts and comments please...
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Prices are likely to drop. 15% in one quarter is not a small number. And, there will be and there are layoff happening before year end.
If prices stay where they are, layoffs will be minimum 15% in Q1. So many people are ignorant to how truly horrific it is out there.
How about the Sugar Land chemical offices? They appear to be still ripe with people and non core businesses that are not contributing to the bottom line and should be sold off even before April.
Yes, both Halliburton and Baker will be pummeled even more, from now till the end of April. What ever is left will have to declare bankruptcy.
Great cant wait for my one to one with the betty,,,,,see yer foreman!
The only oil services stock rising as of now is WFT. May be Hal is is now going to merger (destroy) WFTm lol.
Baker has to keep a certain amount of people for divesture . You cannot sell an empty shell of a company.
With interest rate hike expected this week in America, oil stocks will take another hit, a double whammy. Baker stock is very likely to take a huge dive. I would not be surprised if it gets in 30ies before the end of the year and that means cuts.