People | Service & Supply | Oilfield Services | Job Cuts / Downsize / Layoff
Halliburton to Axe Up to Eight Percent of Workforce
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Oilfield service giant Halliburton has confirmed that it plans to cut down its workforce by 6.5-8.0 percent due to low oil prices, according to multiple reports.
As a result, approximately 5,000-6,500 jobs will be eliminated in the coming weeks. The slimdown will be spread across all sectors of the company, according to Halliburton spokeswoman Emily Mir.
The company, which is poised to takeover rival Baker Hughes in a deal worth $34.6 billion, noted that the cuts are not related to the pending transaction.
Numerous other companies have posted job cuts as low oil prices force operators to cut costs and planned operations in 2015:
- Weatherford to Slash 5,000 Jobs; Cites Weak Prices
- Baker Hughes to Let Go of Thousands Amidst Oil Woes
- Shell Canada to Cut 10% of Workers at Athabasca Oil Sands Project
- Ceramic Proppant Manufacturer Suspends Production; Could Carbo be Next?