Reported 2 days ago
Halliburton has been reducing its workforce recently due to a slump in oil activity and rising costs in the U.S. oil industry. Oil prices have fallen over 10% this year, leading to layoffs across companies like ConocoPhillips, which announced cuts of up to 25%. Halliburton's layoffs have affected at least three divisions, with employee reductions of 20% to 40%. The company anticipates a significant drop in revenue, reflecting a softer oilfield services market than previously expected.
Source: YAHOO