Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

Oil crash: Halliburton slashes another 5,000 jobs

141117101426-halliburton-1024x576Halliburton (HAL) is cutting 8% of its workforce, or roughly 5,000 positions, the Houston energy company told CNNMoney on Thursday.

The new wave of job cuts will take place across the globe over the next several weeks.

It’s the latest evidence of the crisis confronting the U.S. oil industry as crude prices have crashed to seven-year lows.

“Our industry has turned down faster than anyone ever expected,” Halliburton CEO Dave Lesar and President Jeff Miller said in a memo to employees obtained by CNNMoney. The execs said it’s now clear that business opportunities will be “much worse than anticipated” coming into the year.

The latest pink slips bring Halliburton’s job cut tally to between 26,000 to 27,000 since employee headcount peaked in 2014, the company said.

Source: http://money.cnn.com/2016/02/25/investing/halliburton-cuts-5000-jobs-oil-crash/index.html?sr=fbmoney022516halliburton-cuts-5000-jobs-oil-crash0700PMStoryLink&linkId=21652011

Profile photo of Editor
Follow Us

Editor

Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
Profile photo of Editor
Follow Us

Latest posts by Editor (see all)

Share this article

Leave a reply

Personality of the Month
  • Prof. Thomas Mba Akabzaa Chief Director of Ministry of Petroleum          …
Follow Us Online
Join the Discussions

Summary: Revenue mobilization from the oil sector for Agricultural production in Ghana, a myth or reality?

Agriculture, once considered the backbone of Ghana’s economy recorded a reduction of its contribution to GDP from 45% in 1992…

Responses Add your response


About Us
Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
Events Calendar
<< Aug 2017 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3
Twitter Activity Stream
 

Partners We are proud to be associated with:

Skip to toolbar