You saw it yesterday, layoffs are coming. Now, they are not trying to downplay it and this will affect all of us. Matt Fox said yesterday that cuts in Europe are already massive and that we will have more cuts in the US. Now, do the math, it's easy. See what happened with BP, now Shell is laying people off and you had massive layoffs at SLB and Baker. Halliburton will follow for sure. Exploration and production budgets are cut in a major way, so we simply have to cut as lower budgets mean less work and less projects, we will need less people. So, what do we know so far - in 2015 we cut over 200 people in UK. The losses in Scotland are just a tip of the iceberg and there will be many more layoffs that will follow. We'll see how things pan out but I think we'll be contracting well into 2016 if not 2017.
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http://fuelfix.com/blog/2015/02/04/weatherford-to-cut-5000-positions-mostly-in-western-hemisphere/
This link includes Weatherford and BP layoff headcounts. Have we heard a head count for COP?
Everyone will be affected, we are always slow to move but once we get moving layoffs will be massive, you should be prepared. Have your resume ready and be ready to start looking as things will develop rapidly once they put layoff plans in motion.
What locations are affected? Anyone knows?
Oh, forgot to say, good luck to all of us