Halliburton cuts hundreds of jobs in the Rockies – Houston Business Journal

The oil field services company is seeing reduced activity in its Rockies customers, so 650 people in Colorado, Wyoming, New Mexico and North Dakota were affected. However, the company is offering the majority of them the option to move to other operating areas where it’s expecting higher demand, according to a company statement.

“Making this decision was not easy, nor taken lightly, but unfortunately it was necessary as we work to align our operations to reduced customer activity,” said spokeswoman Emily Mir.

The move comes a few months after Halliburton restructured its organization in North America to remove several layers of management. The company also put away oil field equipment and will keep it in storage until it sees better returns, CEO Jeff Miller said on the company’s July 22 earnings conference call. In the second quarter, all that translated to an 8 percent reduction in North American jobs at Halliburton, Mir said at the time.

The oil and gas industry has faced contractions in recent months, with 23 percent of Texas companies in that sector reporting third-quarter layoffs, according to a survey by the Dallas Federal Reserve. That has been especially marked in Texas-based oil field services companies, two-thirds of whom reported lower headcounts in the Dallas Fed survey.

— Read on www.bizjournals.com/

Advertisements