Halliburton to cut 1,000 jobs in Eastern Hemisphere

12/11/2014

Halliburton to cut 1,000 jobs in Eastern Hemisphere

ROGER JORDAN, Associate Editor

HOUSTON – Halliburton is to cut approximately 1,000 jobs across multiple regions in the Eastern Hemisphere with immediate effect, the company said in a statement.

The news comes after the benchmark U.S. oil price dropped below $60/bbl for the first time since July 2009. WTI for January delivery dropped 99 cents to close at $59.95/bbl on the New York Mercantile Exchange on Dec. 11.

“The decision to eliminate jobs is never easy. Our talented workforce is the foundation of everything we accomplish, and we place the highest value on the commitment and hard work that our employees dedicate to building our Company. Yet, we believe these job eliminations are necessary in order to work through this market environment,” Halliburton said.

“No layoffs have occurred or are presently planned as a result of the pending Baker Hughes acquisition,” the company added.

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