HALLIBURTON CUTS 5,000 JOBS
Halliburton Co., which provides well-drilling services for oil companies, is cutting 5,000 more jobs as the industry continues to struggle with slumping oil prices.
A company spokeswoman said Thursday that the latest cuts will amount to about 8 percent of the Houston-based company's global workforce.
Oil prices have tumbled about 70 percent since peaking above $100 a barrel in mid-2014. That has led to less drilling activity and to widespread layoffs in the oil fields. Halliburton rival Schlumberger cut 10,000 jobs in the fourth quarter.
Halliburton spokeswoman Emily Mir said the Houston-based company was reducing its workforce "due to ongoing market conditions."
Mir said the company regretted the decision, "but unfortunately we are faced with the difficult reality that reductions are necessary to work through this challenging market environment."
When the layoffs are completed, Halliburton will have reduced its workforce by between 26,000 and 27,000 employees since the peak in 2014, she said.
Halliburton grew from 58,000 employees in 2010 to more than 80,000 during 2014. It slashed that number to 65,000 by the end of 2015, according to regulatory filings.
In afternoon trading, Halliburton shares rose 4 cents to finish at $32.50 in Thursday. They are down more than 4 percent in 2016 and more than 25 percent in the past year.
|February, 16, 23:45:00|
|February, 16, 23:40:00|
|February, 16, 23:35:00|
|February, 16, 23:30:00|
|February, 16, 23:25:00|
|February, 16, 23:20:00|
AOG - The Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.
TRANSCANADA - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per share in 2016.
ROSATOM - February 13, 2018, Moscow. – ROSATOM and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo today signed a Memorandum of Understanding on cooperation in the field of peaceful uses of atomic energy.
FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.