Halliburton Cuts 6,000 Jobs in First Quarter Amid Oil Price Pangs

SUGAR LAND--April 26, 2016--Researched by Industrial Info Resources (Sugar Land, Texas)--Oilfield services giant Halliburton Company (NYSE:HAL) (Houston, Texas) said it cut its workforce by more than 6,000 people in the first quarter of this year as customers slashed their operational and capital budgets. Having already reduced its workforce by one-third since 2014, the latest phase of layoffs comes amid a slowdown in drilling, with activity in North America expected to decrease by 50% this year compared to a 40% drop in 2015. Within this article: Includes information about the acquisition of Baker Hughes as well as the recent lawsuit filed by the Justice Department to block the acquisition.