Oilfield services company Halliburton plans to cut another 5,000 jobs amid continued low crude oil prices.
The next round of cuts would amount to about 8 percent of its remaining global workforce, according to reports. The company previously slashed some 22,000 positions — or 25 percent of its peak workforce — since 2014, when crude prices began tumbling.
(AP Photo)“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," the company said.
Halliburton's proposed acquisition of Baker Hughes, which also laid off thousands as prices slid, remains pending before antitrust regulators.
Schlumberger, the third of Houston's oilfield services giants, cut 26 percent of its workforce — or 34,000 positions — since late 2014.