Houston-based Halliburton Co. (NYSE: HAL) confirmed it will cut anywhere from 5,000 to nearly 6,500 jobs companywide because of slumping oil prices and the resulting decline in oil and gas exploration and production.
Halliburton said Feb. 10 it will cut 6.5 percent to 8 percent of its global headcount. The company reported having about 80,000 global employees last year, including 8,600 in the Houston region.
In a new email to employees, Halliburton Chairman and CEO Dave Lesar stated that no one is immune.
"We value every employee we have, but unfortunately we are faced with the difficult reality that reductions are necessary to work through this challenging market environment," Halliburton spokeswoman Emily Mirsaid in an email response. "The impact will be across all areas of Halliburton's operations."
She said the cuts are not related to Halliburton's planned acquisition of Houston-based Baker Hughes Inc. (NYSE: BHI).
Lesar had previously warned that 2015 would be a "tough year" for the company that included Houston job cuts and at least 1,000 Eastern Hemisphere terminations.
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Guess we need another war
ReplyDeleteGood let that big defense bubbles die. Shouldn't have ever gotten as big as they are today.
ReplyDeleteIf any of them are the ones that relocated from Salisbury to Texas, where are they going to go now?
ReplyDelete12:44
ReplyDeleteEXACTLY. Local politics had nothing to do with Labinal, and Mikulski got straight up swindled by yet another powerful corporation. Ugh.
Mikulski didn't get swindled. She still got HER lobbyist money from them. Marylanders have been the ones getting swindled by Mikulski for as long as she has been in office.
ReplyDelete