Expect Halliburton to announce layoffs
Halliburton's report on fourth-quarter results and 2015 projections will likely include announcements about layoffs, economist Loren Scott said Monday
The earnings conference call will start at 8 a.m. CST on Tuesday.
"Shale drilling is very service intensive," Scott said, "and Halliburton and Schlumberger are heavily invested in that."
Scott said drilling in shale plays — he mentioned Texas, Colorado, North Dakota and Pennsylvania as probable sites of substantial layoffs — is where companies are cutting their budgets, and some of the layoffs are expected to be sizable.
Schlumberger announced last week it had started the process of laying off some 9,000 workers, more than 7 percent of its global workforce. Halliburton has previously announced 1,000 layoffs in the Eastern Hemisphere, but gave no specifics. The company has about 80,000 employees worldwide.
- The Times
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- January 20, 2015
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