HUMAN RESOURCES

Halliburton, Baker Hughes axe thousands of jobs

OILFIELD services giant Baker Hughes has announced plans to cut 7000 jobs while its acquirer Hall...

This article is 9 years old. Images might not display.

While Baker Hughes' redundancies will be implemented during the current quarter, Halliburton has flagged it will also cut a large number of jobs even though it has not yet provided a specific figure.

"We expect our headcount adjustments to be in line with our primary competitors," Halliburton's chief operating officer Jeffrey Miller said on a post-earnings call yesterday, reported by Reuters Other key competitor, Schlumberger, announced plans to axe 9000 jobs last week.

Meanwhile, Halliburton CEO Dave Lesar said the company was committed to its closing its takeover deal (about $A33 billion) with Baker Hughes with transaction becoming "more compelling" than when announced in November.

He also said that its oil company customers had, on average, slashed their spending by 25-30% due to falling oil prices.

Halliburton previously shed 1000 jobs in the eastern hemisphere during the December quarter.

TOPICS:

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

editions

ENB CCS Report 2024

ENB’s CCS Report 2024 finds that CCS could be the much-needed magic bullet for Australia’s decarbonisation drive

editions

ENB Cost Report 2023

ENB’s latest Cost Report findings provide optimism as investments in oil and gas, as well as new energy rise.

editions

ENB Future of Energy Report 2023

ENB’s inaugural Future of Energy Report details the industry outlook on the medium-to-long-term future for the sector in the Asia Pacific region.

editions

ENB Cost Report 2021

This industry-wide report aims to understand current cost levels across the energy industry