A Halliburton spokesperson confirmed to Rigzone that it will lay off approximately 1,000 employees from its Eastern Hemisphere operations, effective immediately.
No layoffs have occurred or are currently planned as a result of Halliburton’s pending acquisition of Baker Hughes, Emily Mir, director of public relations at Halliburton, told Rigzone.
“The decision to eliminate jobs is never easy,” said Mir in the email. “Our talented workforce is the foundation of everything that 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.”
Due to low prices, drilling equipment manufacturers are expected to take a hit as oil and gas companies seek to pump more oil while spending less on equipment and materials, according to the Nov. 26 edition of The Kiplinger Letter.
“Service providers such as Halilburton and Baker Hughes … now seeking to merger …. Also figure to see profits decline next year,” Kiplinger noted.
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