Halliburton To Cut Up To 6,500 Jobs As Crude Carnages To Crucial $50 Level

Tyler Durden's picture

But everything was supposed to be fixed?

  • *HALLIBURTON WILL CUT 5,000-6,500 JOBS: HOUSTON BUSINESS JOURNAL

WTI is tumbling down 5%, nearing the crucial $50 level...

 

As The Houston Business Journal reports,

Houston-based Halliburton Co. (NYSE: HAL) confirmed it will cut anywhere from 5,000 to nearly 6,500 jobs companywide because of slumping oil prices and the resulting decline in oil and gas exploration and production.

 

Halliburton said Feb. 10 it will cut 6.5 percent to 8 percent of its global headcount. The company reported having about 80,000 global employees last year, including 8,600 in the Houston region.

 

In a new email to employees, Halliburton Chairman and CEO Dave Lesar stated that no one is immune.

 

"We value every employee we have, but unfortunately we are faced with the difficult reality that reductions are necessary to work through this challenging market environment," Halliburton spokeswoman Emily Mir said in an email response. "The impact will be across all areas of Halliburton's operations."

And this won't help...

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Osmium's picture
Halliburton To Cut 6000 Jobes As Crude Carnages To Crucial $50 Level

Where are they going to find 6,000 Jobes?  I don't think I know any Jobes.  Where are they going to cut them is a better question.

ZerOhead's picture

Ya... tough to find 6,000 Jobes to cut... 6,000 Benjamins might be easier...

Groundhog Day's picture

that should be good for another 65 spx points

pods's picture

There is no truth to the rumor that they are going to cut back on Dick Cheney's baby meal allotment.

Nigger's gotta eat!

pods

Liberal's picture

Like I said in another thread, this is what happens when the economy is just TOO STRONG.

Companies are laying off people to encourage them to go out and spend all the money they've earned as a result of this strong economy.

And companies don't feel bad because we are creating millions of jobs a day, so they'll always be able to find work even with their eyes closed.

 

bania's picture

Come on Cheney. Have a heart! Don't fire all those folks.

XqWretch's picture

Man let that Nazi run shitpile of a company burn to the fucking ground. Talk about a corporation that runs on blood money. IG Farben redux

Uncle Remus's picture

Yeah, it's hit here in flyover. I expect a firesale on duallies with welding rigs on the back here soon. That and gooseneck trailers hotshots no longer need.

This one's gonna leave a mark - bettin' on the come that isn't.

new game's picture

housing carnage 08, oil patch carnage 15. thank the cb ers, cause they are the root cause.

world wide keynsian stimulation brought this one on. otherwise oil would never have got to 100 and stayed there for 5 years.

guess, i'll just play the bottom come fall...

been out of the markets for 5 years, but this one looks like a sure double over next couple of years.

just play the hand delt and make some money on the comeback. patience on this one. 

Atomizer's picture

Oil price hurt by surging debt levels, says Bank for International Settlements

http://www.smh.com.au/business/markets/oil-price-hurt-by-surging-debt-levels-says-bank-for-international-settlements-20150209-139d1h.html

 

Oops, we didn't mean to say that. We retract are statement, gurgle, gurgle, the petrodollar system is sound, gurgle, gurgle… help me, I can’t swim.

cnmcdee's picture

The real estate peddlers talking about housing prices going up in Calgary have been strangely silent..

Meanwhile as house sale listing explodes...

http://calgaryherald.com/business/real-estate/calgary-area-housing-start...

http://www.cbc.ca/news/business/calgary-housing-market-slows-way-down-1....

I live in a motel - I figure I save about $10,000 a month in unlost equity by doing this. Mid 2016 will be the time to look at getting in (unless of course war starts sooner).

 

cnmcdee's picture

Meanwhile Canadian Housing and Mortgage Corporation expects housing pricing to <climb...?>

http://calgaryherald.com/business/real-estate/cmhc-forecasting-house-pri...

CMHC I met a guy on the bus whose friend worked for these cons, they were pocketing the entire 'fee.'

Atomizer's picture

You can follow the Zillow and Trulia in La Canadasites on MTBLURB.conjob

http://www.mtlurb.com/

Atomizer's picture

Is your van installed with a bidet toilet?

SWRichmond's picture

How can crude carnage?

Carnage is a verb now...

NoDebt's picture

Moving up from the $43 lows to $50 is carnage enough for anyone.

pods's picture

Yep.  Context:
"The cast of My 600 lb Life carnaged the dessert bar at the Sizzler to celebrate Amy's losing another 100 pounds.  When asked how exactly she did it, Amy replied 'It was tough, but I finally decided to let the doc cut off that Shar pei of loose skin I had left."

pods 

youngman's picture

Got nothing on Greece...soon they are going to cut 100,000 or more...no money..no job...

kaiserhoff's picture

Ya'll misunderestimated.  She's talking about the trials of Job.  It's a Biblical thang.

I'm sure that syntax works in some language.  Sanskrit maybe?

1000yrdstare's picture

I wanna know how this affects Darth Cheney?

813kml's picture

He will get 5,000-6,500 candidates from which to select his next heart(s).

drendebe10's picture

Hey. WTF.... didn't someone say the economy turned the corner and the long shadow is gone or something like that..... oopss... it was the narcissitic liar in chief fugepacker....  never mind....

TrumpXVI's picture

It never mattered how many times God cut Job....he never lost his faith.

dimwitted economist's picture

OMFG!!!!!!! obama Save Us!!!!!!!

Hohum's picture

Why is $50 a critical level?  Because it's half of $100?

FrankieGoesToHollywood's picture

Actually, $50 is the crucial level.

$44 is the critical level.

$40 is the supercritical level.

malek's picture

At $32 there is a barely audible "pop" and the whole worlds economy comes to a complete halt.

Emergency Ward's picture

$31.50 signals the end of Western Civilization.

giovanni_f's picture

Martin Armstrong would say: Pi x 223 Years plus 300 Million Americans divided by the second fibonacci level of an undisclosed numerology only in his possession will result in 8.24. If you divide 8.24 by (Pi) and then again by something you will end up with 49.99, about 50.

 

kaiserhoff's picture

OK, but how many Elliiot waves is that since Noah's Flood?

giovanni_f's picture

This information is only available to subscribers. Sign up here https://www.nsa.gov/

Atomizer's picture

Just wait for the new FCC laws take place on internet taxation. We will just migrate to the alternative subterranean levels. MSM anchorman/ anchorwoman will read from teleprompter while jacking off under the news table desk with 5,000 viewers a day.

 

Media Ad sponsorship will take a nosedive. Just ask CNN, MSNBC, and CNBC. Google will also lose clout. Once Brian Williams is replaced, viewership will plunder. If you keep Brian, viewership will plunder. ABC is not news, rather a comedy hour of false tales. Suck it up progressive cunts. Hahahahahahaa.  

toys for tits's picture

Don't forget a day for a year.

ZerOhead's picture

Good point... and wouldn't $200 be even more critical?

blabam's picture

I need about tree fiddy.

FrankieGoesToHollywood's picture

$200 would be lifesupport ICU.

Id fight Gandhi's picture

Cause people are jerks. Hung up on arbitrary numbers.

Now go back and read last weeks Oil stories of how its bottomed and taken the dow back to near ATHs.

rejected's picture

You'd better confirm that number with the BLS first!

Bastiat's picture

No need - the BLS has it covered with the new inverse mining/energy sector adjustment factor. 

Hohum's picture

2 more layoffs: CEO and spokesperson.

Handful of Dust's picture

Oil sector getting wiped out in O&G states while New England enjoys one of the Globally Warming episodes:

 

New England braces for more snow after snowstorm sets new records

 

http://www.foxnews.com/weather/2015/02/10/new-england-braces-for-another...

kowalli's picture

did anyone said recovery before me?

DontFollowMyAdviceImaDummy's picture

they might want to hold off on those pinkslips... USSA is about to declare war on ISIS and the rest of the islamofacists across the region / they'll get all blowuppy with Iraqi oil fields soon and with that production gonzo back come the $100+ prices