/Halliburton_Cuts_5,000_Jobs,_8%25_Of_Workfor

Halliburton – which cut thousands upon thousands of jobs in 2015 – is back it, announcing an additional 5,000 layoffs on Thursdsay. The cuts amount to 8% of the company’s remaining workforce. We say “remaining” because as CNN notes, “the latest pink slips bring Halliburton’s job cut tally to between 26,000 to 27,000 since employee headcount peaked in 2014.”

The company will also look to sell assets (because everyone wants the kind of assets Halliburton owns with oil at $30) and is projecting $1.6 billion in capex this year. 

“We regret having to make this decision but unfortunately we are faced with the difficult reality that reductions are necessary to work through this challenging market environment,” Emily Mir, a spokeswoman, said Thursday in an e-mailed statement. “We thank all impacted employees for their many contributions to Halliburton.”