World’s second largest provider of oilfield services, Halliburton, will let a thousand workers go, according to reports.

The layoffs will affect workers in Europe, Asia, Africa and Middle East, while there will be no workforce cuts in America.

Reportedly, Halliburton spokesperson told AFP that the job cuts were necessary for Halliburton to work through challenging market environment. Halliburton has a workforce of more that 80,000 employees, representing 140 nationalities in over 80 countries.

Oil prices have fallen more than forty percent since June, urging oil companies to cut spending, which in turn has largely affected the supply chain firms.

Even Schlumberger, world’s biggest oilfield services provider, recently said it would reduce its headcount to cut costs.

Elsewhere in the oil and gas industry, Dutch SBM Offshore yesterday said it would lay off 1200 employees.

Source: www.offshoreenergytoday.com

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