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Why more mass layoffs are unlikely in the oil industry

2015-04-18 15:43:45| Oil & Gas - Topix.net

Despite heavy pressure on energy prices from a glut of crude oil, Wall Street doubts many companies will follow oil-field services company Schlumberger Ltd's example and lay off thousands of workers. Most industry analysts are predicting oil prices will recover over the next year, so companies, especially oil producers, may be reluctant to fire employees - incurring severance and other related expenses - only to have to hire them back a short time later.

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