Halliburton closes two locations in Texas, lays off 240 in Oklahoma, Get energy news sent directly to your inbox, USMCA, overshadowed by pandemic, seen speeding post-COVID recovery, Oil-field services speed adoption of clean energy tech, Life After COVID: Pandemic to permanently change oil & gas tech, skills, Kamala Harris coming to Texas on Friday, including a stop in Houston, sources say. The company has nearly $1.4 billion of cash on hand and enters this downturn with $2.6 billion less debt on the books than what it had at the beginning of the 2016 downturn. The S&P 500 wavered between modest gains and losses for much of the day as the gains for tech stocks jousted with the more prevalent losses elsewhere, before it turned lower in the last half-hour of trading. Fill out the form below to subscribe our new daily editorial newsletter from the HPM Newsroom. 'audience' : 'News', RELATED: 2 Halliburton facilities in Texas close during global coronavirus emergency, RELATED: Wall Street dips to week’s first loss despite tech’s efforts, Send us a news tip | Download our app | #HTownRush Newsletter, Great news if you watch TV with an antenna. Company officials earlier furloughed 3,500 employees at its Houston headquarters, but attributed this week’s layoffs to an “unforeseeable, dramatic business downturn caused by the coronavirus and unprecedented commodity price decline.”, “The reductions are in addition to layoffs across the company’s global operations,” the company said in a statement. Federal disaster team sent, overflow hospital set up as COVID surges in El Paso, Woman shot and killed at Texas Renaissance Festival campground, Oil firms bring record level of debt to bankruptcy court, Trump puts oil on the ballot in race to win Texas, Refineries face headwinds as COVID cases rise, Frequent CenterPoint outages happen rain or shine, customers say. Approximately 984 employees were affected. The reductions are in addition to layoffs across the Company’s global operations. More than 2,700 of those job cuts happened over the last month at 12 locations in Texas, Oklahoma, Louisiana and Colorado, filings with state workforce officials show. Houston Teachers Stage Sick-Out Protest To Demand Better COVID-19 Protocols, Hey Voter, The Texas Supreme Court Has Seats To Fill Too, Examining Proposed Flood Prevention Projects (Oct. 26, 2020), Bacon-Scented Face Masks Are A Thing: The Good, Bad, And Ugly Of The News, How The Pandemic's Affecting Our Children (Oct. 22, 2020). She was laid off on Friday. A large part of Halliburton’s business in North America entails completion services, which include hydraulic fracturing. He didn’t. The company has two headquarters located in Houston and in Dubai. Then, we break down The Good, The Bad, and The Ugly of the week’s news. 'Region' : 'United_States', ssdl.editorialMetaData = { 'Country' : 'US', Houston oil field service giant Halliburton has laid off 1,000 employees at its headquarters as record low crude prices continue to take their toll on demand for the company's products and services. Halliburton started the year with 55,000 employees across the world, but the workforce has shrunk to about 50,000 people, an April 24 filing with the U.S. Securities and Exchange Commission shows. He previously worked at the San Antonio Business Journal, KGBT-TV in the Rio Grande Valley and Al Día in Dallas. Trump says he built a ‘booming’ economy. Considered to be the top oilfield services provider in the U.S., the company took the move as shale producers slashed spending over the falling oil prices. Off-topic, inappropriate or insulting comments will be removed. Economists say he inherited it. The job losses are permanent, and it is expected that the facility will remain open. "Halliburton is laying off approximately 1000 employees at its corporate headquarters in Houston because of the unforeseeable, dramatic business downturn caused by the Coronavirus and unprecedented commodity price decline. Halliburton said the layoffs were necessary as the company adjusts to customers' decreased activity. But the market’s losses would have been much worse if not for continued gains for technology stocks. On April 29, Halliburton closed two of its Texas facilities. The employees are being let go from the company's corporate headquarters in Houston. Halliburton Co. (NYSE: HAL) is laying off about 1,000 employees at its corporate headquarters in Houston. 3,500 Halliburton workers furloughed in Houston March 18, 2020 Just a few months after making layoffs from its Oklahoma operations, Houston-based Halliburton announced it will furlough nearly 3,500 workers in Houston for 60 days. Affected employees did not have any bumping rights, and no further information was provided about the job losses in the notice.
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