Halliburton Cuts 8% of North American Jobs in Frack Slowdown
- Company executing new ‘playbook’ to deal with customer changes
- Shale producers are trimming spending amid investor pressure
An attendee walks past a mural displaying Halliburton Co. imagery during the 2019 Offshore Technology Conference in Houston.
Photographer: Aaron M. Sprecher/BloombergThis article is for subscribers only.
Halliburton Co. is shifting strategy in its largest region to deal with subdued customer spending by trimming 8% of its North American workforce and shelving unused frack gear.
The world’s biggest provider of fracking equipment, including heavy duty rock-blasting pumps and sand-storage silos, declined to tell analysts and investors Monday how much pressure-pumping gear it’s parked in the U.S. and Canada. The Houston-based contractor made the workforce cut in the region during the second quarter, while keeping its headcount elsewhere roughly the same, spokeswoman Emily Mir said.