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Fri Dec 12, 2014, 01:33 AM

Halliburton lays off 1,000 employees in Eastern Hemisphere

HOUSTON — Oil field giant Halliburton said Thursday it is laying off about 1,000 employees across multiple regions in the Eastern Hemisphere, effective immediately, a day after a company executive said it expects a $75 million restructuring charge in the fourth quarter.

The announcement comes as oil prices have plummeted in recent months. U.S. benchmark crude West Texas Intermediate fell below $60 for the first time in five years on Thursday.

“The decision to eliminate jobs is never easy,” Halliburton spokeswoman Emily Mir said in an emailed statement. “Our talented workforce is the foundation of everything we accomplish, and we place the highest value on the commitment and hard work that our employees dedicate to building our company. Yet, we believe these job eliminations are necessary in order to work through this market environment.”

Mir added the layoffs were unrelated to Halliburton’s proposed $35 billion acquisition of Houston-based oil field services firm Baker Hughes.

More: http://fuelfix.com/blog/2014/12/11/halliburton-lays-off-1000-employees-in-eastern-hemisphere/

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