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Tuesday, March 1, 2016

5,000 More Workers Laid Off by Halliburton

From NGI:
Halliburton Co., in survival mode as oilfields are shunned worldwide, is sending another 5,000 people home, slashing its workforce by another 8%, the company confirmed on Thursday. 
The No. 2 oilfield services (OFS) provider, and No. 1 hydraulic fracturing operator in North America, has reduced its global headcount by almost 25%, or 22,000 people, since the end of 2014 (see Shale Daily, Sept. 24, 2015; April 20, 2015. At the end of last year, Halliburton employed about 65,000, versus 80,000 at year-end 2014. 
Halliburton had laid off another 4,000 people in the final three months of 2015, and CEO Dave Lesar warned in January that more people could be given pink slips (see Shale Daily, Jan. 25). 
"Ongoing market conditions" are the reason for the layoffs, spokeswoman Emily Mir told NGI's Shale Daily.
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