Drepessing as **** here, layoffs in the thousands, lots of companies implenting salary cuts throughout the company, more days off without pay. Dumping contractors, colusion in the indusrty to ask all vendors to cut their rates or costs by as much as 30%.
I had my meeting on Friday and agreed to a 9% reduction to my rate. Dividends cut to the bone, major and minor projects cut or full stop. This will have big, long term affects, a lot different that the other 3-5 oil panics over the last 20 years.
Weekly meetings with the big companies trying to figure not just how to weather the storm, but to stay in business. I'm not sure how many of the ancilary companies and industries will survive.
On a positve note we may have a new client - a new Lambourghini dealership opening here
