They are being called terminations due to performance. This type of layoff is done quietly as to not raise concerns in the company. They have been happening and will continue until prices recover
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Any in drilling or completions?
Happened to me. Called it performance as well. When asked, they basically ignored it. Then told me my insurance will be canceled at the end of that month. It was 2 days until the end. Good thing I don't have a family to provide for. Also know of 3 other getting "terminated" in the past couple of months.