Halliburton Warn Employees of Job CutsNeil Hardie
Oilfield services giant Halliburton will “significantly reduce” its workforce in the coming weeks, according to it its chief executive.
In an email sent to the firm’s employees, CEO Jeff Miller said it was “with a heavy heart” he made the announcement, as the company adjusts to the oil price drop and the Covid-19 outbreak.
Halliburton operates from two locations in Angus – at Elliot Industrial Estate in Arbroath and Forties Road in Montrose.
The document was circulated to the firm’s UK workforce, among other regions, which includes hundreds within the Aberdeen area, where it has its UK headquarters.
Mr Miller said those affected will be treated “with the utmost dignity as possible” as they depart Halliburton.
When asked to confirm how many workers in the north-east will be affected, a spokeswoman said “we are not providing numbers of impacted employees at this time”.
Mr Miller cited oil prices being at a 17-year low, customers slashing costs and declining rig count for the cuts.
He said the steps, which will also include a reduction in salaries for its executive committee, will ensure Halliburton “survives” the market conditions, however, “it won’t be without sacrifices”.
“It is with a heavy heart that I announce that over the coming weeks, we will significantly reduce our workforce”, Mr Miller said.
“This is a painful decision, and I am fully aware of the difficulty this will cause our impacted employees.
“Unfortunately, this action is necessary as Halliburton adjusts to the market.
“For those of you who are impacted, we are grateful for your many contributions to our Company, and we will treat you with the utmost dignity possible as you depart Halliburton.”
It comes after the oilfield services firm decided to furlough 3,500 employees in the US last month.
Halliburton, which supplies materials, services and equipment for oil and gas well installation, made a round of redundancies from its Arbroath site in 2016.