halliburton layoffs houston 2020
Sergio was born and raised in the Lone Star State and studied journalism at the University of Texas at Austin. ... 4:46 PM CDT May 6, 2020 ... HOUSTON — About 1,000 Halliburton employees are … Oil prices have plummeted from more than $60 a barrel at the beginning of the year to less than $25 as the coronavirus pandemic shuts down swaths of the global economy and undermines demand. Rinse Your Sinuses With Shampoo Or Probiotics? A large number of those layoffs are the result of the company closing locations and moving remaining operations to other locations. North Dakota officials know tough times are coming in oil gas industry, Cheap gas in Oklahoma—down to $1.20 in OKC. Trump says he built a ‘booming’ economy. If you already see KHOU on 11.1, you may now ALSO see it on 11.11 – it’s the exact same programming. Fill out the form below to subscribe our new daily editorial newsletter from the HPM Newsroom. The oil industry is consolidating. 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. Houston-based Halliburton Co. (NYSE: HAL) recorded about $1.07 billion of pre-tax impairments and other charges in the first quarter of 2020, which resulted in a … ssdl.editorialMetaData = { 'Country' : 'US', Fuel Fix: Get energy news sent directly to your inbox. Top U.S. oilfield services provider Halliburton will reportedly furlough 3,500 employees in Houston for 60 days as shale producers slash spending amid falling oil prices. 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. KHOU has just upgraded its technology. Stocks fell on Wall Street Wednesday, sending the market to its first loss in three days after more depressing data rolled in on the devastation sweeping the global economy. “These actions are difficult but necessary as we adjust our business to customers’ decreased activity.”, Oil Bust: Halliburton closes two locations in Texas, lays off 240 in Oklahoma. 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. Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. Since that time, over 600 company employees have been laid off at various locations in Oklahoma, and approximately 3,500 employees have been furloughed in Houston at its North Belt campus. Hallburton issued $1 billion of senior notes in February that were used to pay off $500 million worth of higher-interest debt early. 'company' : 'Halliburton_Company', ... • April 9, 2020. He's spent more than 20 years in public radio and television and dabbled in minor league baseball, spending four seasons as the public address announcer for the Reno Aces, the Triple-A affiliate of the Arizona Diamondbacks. You may have to rescan your channels for it to work – if that’s the case, we’ve got some instructions at KHOU.com/antenna. On Friday’s Houston Matters: Halliburton layoffs, the nation’s meat supply, lasting changes from the pandemic, The Good, The Bad, and The Ugly of the news, and connecting a mother with her newborn while quarantined. 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Economists say he inherited it. Tullow Gets Green Light for $575MM Total Deal, Trucking Provides Rare Boost to Europe Oil Demand, Total Awards Maersk Contract for Three Angola Wells, Asia LNG Price Surge Spurs Interest in Vitol Trades, Deloitte Gives Bleak US Oil Job Prediction. The job losses are permanent, and it is expected that the facility will remain open. The company has taken a dramatic hit caused by COVID-19 and an "unprecedented commodity price decline.". It’s the latest blow to Houston’s floundering oil and gas industry. Serena Williams Looks Ridiculously Toned From Head To Toe In Multiple BTS Photos. 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. Energy & Environment Halliburton To Furlough 3,500 Houston Workers As Oil Prices Sink. The firm already took a series of aggressive cost-cutting measures last year due to flat oil prices and slowing producer spending, including multiple rounds of job cuts and idling equipment. Notifications can be turned off anytime in the browser settings. Halliburton, the largest provider of hydraulic fracturing services in the United States, has about 30% of the pressure pumping market share, according to consultancy Primary Vision. The reductions are in addition to layoffs across the Company’s global operations. These actions are difficult but necessary as we adjust our business to customers’ decreased activity.". He was referring to George Lopez. var ssdl = ssdl || {} 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. Halliburton UPDATE May 7: ... Pete Gomez shares a drink with his friends at D&W Lounge on Tuesday, March 17, 2020, in Houston. Trump says Biden called him George. The oil company joined Halliburton and other major industrial players in the Houston area making cuts during the pandemic crisis. 'author' : 'Bertie Melinda Taylor', “We were unable to provide more notice of this action because these circumstances were not reasonably foreseeable until recently as the full impact of this crisis continues to unfold, which has included massive oil surpluses, oil prices falling to record lows, and an unprecedented decrease in consumer demand, all in the space of a few short weeks,” the company said in the notice. COVID changed all that, Campaigning during a pandemic, Biden and Trump lead by example — 2 opposite examples. A report Wednesday morning showed private U.S. employers eliminated an astonishing 20.2 million jobs last month. Mayor Turner gives update on COVID-19 response | Stream at 3 p.m. Then, we break down The Good, The Bad, and The Ugly of the week’s news. Across the Atlantic, the European Union said Wednesday that it’s bracing for a “recession of historic proportions” amid restrictions meant to slow the spread of the virus.

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