Halliburton to cut over 5,000 jobs amid falling oil prices

Oil company Halliburton plans to cut 5,000 to 6,500 jobs due to plummeting crude oil prices.

It’s the latest in a string of layoffs from oil field service companies, the Houston Chronicle reports.

The cuts add up to 6.5 percent to 8 percent of Halliburton’s global workforce and brings the total number of layoffs across the world’s four largest oil field operators to more than 30,000 workers. 

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

The cuts are expected to impact “all areas of Halliburton’s operations,” Mir said.