Oil toll: Halliburton to cut up to 6,400 jobs

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NEW YORK (CNNMoney) — Halliburton became the latest oil company to feel the sting of falling oil prices.

The Houston oil and gas services company said Tuesday it plans to cut between 5,200 to 6,400 jobs as oil and gas production slows down. The cuts translate to between 6.5% and 8% of the company’s 80,000 global workforce.

“We value every employee we have, but unfortunately we are faced with the difficult reality that reductions are necessary to work through this challenging market environment,” said Halliburton spokeswoman Emily Mir.

The cuts will be across all areas of Halliburton’s operations, she added.

Halliburton announced plans to cut 1,000 jobs last month, which are included in the range announced Tuesday. Mir said the cuts are not related to Halliburton’s $34.6 billion acquisition of rival Baker Hughes.

Halliburton issued this statement:

Halliburton anticipates layoffs in the range of 6.5 to 8 percent of its global headcount.  We value every employee we have, but unfortunately we are faced with the difficult reality that reductions are necessary to work through this challenging market environment.  The impact will be across all areas of Halliburton’s operations.

No layoffs have occurred or are presently planned as a result of the pending Baker Hughes acquisition.

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