World’s second largest provider of oilfield services, Halliburton, is reportedly reducing its workforce by another 5,000 pressured by the prolonged low oil price environment.
According to AFP, a global news agency, Halliburton will cut 5,000 jobs to cope with the oil price slump.
The news agency quoted Halliburton’s spokesperson as saying: “Due to ongoing market conditions, Halliburton is further reducing its global workforce by approximately eight percent or about 5,000 positions.”
The dramatic fall in oil prices already led the oilfield services company to lay off 1,000 workers in December 2014, followed by 6,400 in February 2015, and followed by more reductions in Canada in September 2015.
According to Reuters, Halliburton has reduced its global headcount by 25 percent, or almost 22,000 employees, since 2014.
Offshore Energy Today reached out to Halliburton seeking confirmation of these reports, but we are yet to receive the company’s response.
Meanwhile, Halliburton’s acquisition of a rival oilfield services company Baker Hughes has hit a stumbling block as the European Union suspended a deadline for its review of the $35 billion acquisition due to incomplete information provided by the two companies.
Offshore Energy Today Staff