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2016-02-28 20:30:00

HALLIBURTON CUTS 5,000 JOBS

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…

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Tags: HALLIBURTON, OIL, GAS, PRICE, JOB
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