Halliburton to Eliminate About 650 Jobs Across Rockies Region
October 09 2019 - 3:25PM
Dow Jones News
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.
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