HUMAN RESOURCES

Halliburton, Baker Hughes axe thousands of jobs

OILFIELD services giant Baker Hughes has announced plans to cut 7000 jobs while its acquirer Halliburton is also expected to shed thousands of jobs.

Halliburton, Baker Hughes axe thousands of jobs

While Baker Hughes' redundancies will be implemented during the current quarter, Halliburton has flagged it will also cut a large number of jobs even though it has not yet provided a specific figure.

"We expect our headcount adjustments to be in line with our primary competitors," Halliburton's chief operating officer Jeffrey Miller said on a post-earnings call yesterday, reported by Reuters Other key competitor, Schlumberger, announced plans to axe 9000 jobs last week.

Meanwhile, Halliburton CEO Dave Lesar said the company was committed to its closing its takeover deal (about $A33 billion) with Baker Hughes with transaction becoming "more compelling" than when announced in November.

He also said that its oil company customers had, on average, slashed their spending by 25-30% due to falling oil prices.

Halliburton previously shed 1000 jobs in the eastern hemisphere during the December quarter.

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