Posted on Feb 26, 2016
Halliburton to cut thousands of additional jobs due to worsening business climate - Houston...
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Houston-based Halliburton Co. (NYSE: HAL) will cut even more jobs companywide as 2016 looks worse than expected for the industry. The oil field services giant will cut another 5,000 employees worldwide, or about 8 percent of its total workforce, according to a statement from the company.
Halliburton to cut thousands of additional jobs due to worsening business climate - Houston...
Posted from bizjournals.com
Oil
Oil and Energy
Jobs
Posted 9 y ago
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To answer you question SFC Potter
Haliburton is not a "gas" company. They are a energy completions services company. (as well as many other diversified enterprises.) They do Frac'ing, coil tubing and a few other. They are contracted by the Shells of the world that own the mineral right to come in after the drillers and begin completion of the well. Although the profits were good during the 120 per barrel price they have been quickly ate up over the last two years of fighting for survival. The 5000 being laid off are mainly in their "oil" side of the house.
Haliburton is not a "gas" company. They are a energy completions services company. (as well as many other diversified enterprises.) They do Frac'ing, coil tubing and a few other. They are contracted by the Shells of the world that own the mineral right to come in after the drillers and begin completion of the well. Although the profits were good during the 120 per barrel price they have been quickly ate up over the last two years of fighting for survival. The 5000 being laid off are mainly in their "oil" side of the house.
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Live by the oil, die by the oil... Best to diversify your portfolio Halliburton! (BTW, what happened to those years of record breaking profits when I was paying $4 a gallon?)
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