Halliburton Cuts Jobs in Houston Amid Slumping Crude Oil

Houston-based oilfield service major Halliburton is cutting jobs in Houston in response to the drop in crude oil prices, the company told Rigzone in an email release. The company did not say how many jobs it was cutting in Houston.

“Halliburton continues to make adjustments to its workforce based on current business conditions. The company has made some workforce reductions in Houston,” Halliburton Public Relations spokesperson Chevalier Mayes said in the email release. “While these reductions are difficult, we believe they are necessary to work through this challenging market. We will continue to monitor the business environment closely and will make adjustments to the cost structure of our business as needed.”

In December, Halliburton, which employees 80,000 workers in 80 countries, cut 1,000 workers in Europe, Asia, Africa, the Middle East and Australia due to falling oil prices. The company said then that the cuts were due to weakness in the crude oil market, and were not related to the recent acquisition of Baker Hughes.

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Brent Crude Oil : $53.92/BBL 2.79%
Light Crude Oil : $51.08/BBL 2.66%
Natural Gas : $3.3/MMBtu 3.22%
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