Oops! Halliburton and BP staff layoffs begin

http://fuelfix.com/blog/2014/12/11/halliburton-lays-off-1000-employees-in-eastern-hemisphere/
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HOUSTON — Oil field giant Halliburton said Thursday it is laying off about 1,000 employees across multiple regions in the Eastern Hemisphere, effective immediately, a day after a company executive said it expects a $75 million restructuring charge in the fourth quarter.

The announcement comes as oil prices have plummeted in recent months. U.S. benchmark crude West Texas Intermediate fell below $60 for the first time in five years on Thursday.

On Wednesday, BP executives told investors the company expects $1 billion in restructuring charges over the next year. Oil field service company Schlumberger had said last week it expects $200 million in charges related to layoffs associated with retiring some seismic vessels.

Halliburton has about 30,000 employees across the Eastern Hemisphere, out of approximately 80,000 globally.