Halliburton to Eliminate About 650 Jobs Across Rockies Region

Date : 10/09/2019 @ 7:25PM
Source : Dow Jones News
Stock : Halliburton Co (HAL)
Quote : 23.855  0.085 (0.36%) @ 7:15PM

Halliburton to Eliminate About 650 Jobs Across Rockies Region

Halliburton (NYSE:HAL)
Historical Stock Chart

6 Months : From Jul 2019 to Jan 2020

Click Here for more Halliburton Charts.

By Maria Armental


Oilfield services company Halliburton Co. (HAL) is eliminating about 650 jobs in its Rockies region, citing local market conditions.

The region includes Colorado, Wyoming, New Mexico and North Dakota.

A company spokeswoman said Halliburton offered most of the workers the option to relocate to other areas where more activity is anticipated. She didn't offer additional comment.

Halliburton's profit fell by more than half for the first half of the year amid softness in North America. Company officials said they had seen a modest improvement in hydraulic fracturing activity in North America but expected reductions in the second half of the year and said they expected the slowdown to be more pronounced in gas basins due to persisting lower gas prices.

The Houston-based company booked more than $300 million in impairment charges for the six-month period through June 30, including about $77 million in severance costs.

Company officials said they would continue looking to cut costs "and adjust the size of our North America operations for the market environment."


Write to Maria Armental at maria.armental@wsj.com


(END) Dow Jones Newswires

October 09, 2019 15:10 ET (19:10 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

Latest HAL Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....

No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.