“There’s No More Fat To Be Cut:” Desperate Oil Producers Cut Salaries To Save Mission Critical Jobs
by Tyler Durden
ZeroHedge.com
10/13/2015
In the face of stubbornly low crude prices, it’s starting to look like the end of the road in the O&G space. As WSJ reports, all of the proverbial fat that can be trimmed has already been trimmed in terms of layoffs and capex. This means further cost savings will have to come from salary cuts because going forward, cutting jobs altogether would imperil companies’ ability to operate.
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