Halliburton is to cut more jobs in North America as the industry downturn continues to take its toll on the region.
According to an employee memo, additional layoffs are underway at the Houston-based company, with the majority of the reductions taking place “in North America—the region hardest hit by market conditions.”
The company is planning to “flatten” its North American business “by eliminating multiple layers of management,” Halliburton President Jeff Miller said. It is also planning to “reduce additional headcount commensurate with market activity levels.”
Workers impacted by the announcement will hear from their managers within two weeks, according to Miller’s memo.
“Halliburton is making adjustments to its workforce in North America based on current business conditions and has communicated with our employees,” Halliburton said in a prepared response to questions.
“Halliburton will continue to monitor the business environment and will adjust the size of our workforce to align with current business demands as needed. We are committed to ensuring that our separated employees are treated with dignity and respect.”
The company has already cut about 14,000 jobs since its peak last year.