Halliburton Cuts Another 5,000 Workers to Cope with Oil Downturn

By
David Wethe
  • Oil service index lost more than half its value since June '14
  • Company has cleaved off more than a quarter of its workforce

The shrinking of the oil industry picked up speed this week after Halliburton Co. announced it’s cutting another 5,000 workers, or 8 percent of its remaining global workforce, to survive a lengthening crude market downturn.

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