More job cuts ahead: Yet Evans said the industry shouldn’t fear this looming shakeout.
“That’s good. That’s healthy. Even the good companies got sloppy. And others were in the business who shouldn’t have been,” he said.
Evans acknowledges that the slowdown will result in painful job cuts. Companies like Schlumberger (SLB) and Baker Hughes (BHI) have already announced thousands of layoffs. More are expected.
–
Morningstar: © 2015 Morningstar, Inc. All Rights Reserved.
Factset: FactSet Research Systems Inc. 2015. All rights reserved.
Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.
