Houston oilfield services giant Halliburton is cutting another 5,000 positions worldwide – or 8 percent of its workforce – as it tries to cope with low crude prices.
“We regret having to make this decision but unfortunately we are faced with the difficult reality that reductions are necessary to work through this challenging market environment. We thank all impacted employees for their many contributions to Halliburton,” the company said in a statement.
Following the cuts, Halliburton projects it will have reduced its global headcount by between 26,000 to 27,000 employees since its peak in 2014.
Halliburton declined to give details on how many of the cuts are in Houston or how many employees are currently in Houston, saying such information is competitive and not made avaiable.
The latest cuts are not related to Halliburton’s pending acquisition of rival Baker Hughes.