Halliburton 3Q15: $54M Loss, Cut 18,000 Jobs Over Past Year

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red inkIt continues to be tough times at Halliburton. Although the company is in the process of buying smaller competitor Baker Hughes, Halliburton themselves are having a hard time keeping their proverbial nose above water. In the third quarter of 2015 the company lost $54 million and laid off another 2,000 employees. Earlier this year Halliburton laid off 10% of its workforce--some 9,000 people (see 3rd Shoe Drops: Halliburton Lays Off Additional 2,600). In September, an internal company document surfaced saying the company has plans to lay off a total of 20,000 people. They're almost there. According to an email from a Halliburton spokesperson, the company has now laid off 18,000 people since last year--a number much higher than previously confirmed by the company. In a phone conference yesterday, Halliburton officials said first quarter of next year will likely be the lowest point they hit with respect to a decrease in business/revenue, and after that things will improve. From their lips to God's ears--we hope they're right. Below is the earnings update along with select comments by Halliburton's muckety mucks as reported by Bloomberg...

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