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Stock impact report

Halliburton cuts more U.S. jobs, executive pay as oil bust deepens [Reuters]

Halliburton Company (HAL) 
Last halliburton company earnings: 4/20 06:45 am Check Earnings Report
US:NYSE Investor Relations: ir.halliburton.com
Company Research Source: Reuters
Halliburton cuts more U.S. jobs, executive pay as oil bust deepens (Reuters) - Oilfield services firm Halliburton Co said on Monday it was cutting about 350 employees in Oklahoma, according to a filing with the state, and that its executives would reduce their salaries amid a deepening oil price rout. Staff cuts could begin this week at its Duncan, Oklahoma, facility, the filing said, and would be permanent. The facility is expected to remain open. In addition to the salary reductions for executives, Halliburton will suspend certain contributions made to employee retirement accounts, the company said. Energy companies have slashed spending since oil prices crashed this year more than 60%, taking prices below $30 a barrel, less than the cost of production. Halliburton said last month it would furlough 3,500 workers in Houston to cope with lower prices. “This was a difficult decision, but is necessary action as we face challenging market conditions,” spokeswoman Emily Mir said in a emai Show less Read more
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