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.