Halliburton Cuts 20-40% Staff Across Multiple Divisions Amid Oil Price Decline

Halliburton has been implementing significant workforce reductions, with layoffs affecting between 20% and 40% of employees in at least three of its business divisions amid rising costs and low oil prices. The company’s CEO highlighted a softer oilfield services market, particularly in North America, with expected declines in revenue for both North America and international operations. Despite these challenges and a notable drop in Halliburton’s stock over the past year, market analysts maintain a generally positive outlook, with an average target price suggesting potential upside of nearly 19% to over 50% based on proprietary valuation metrics. Halliburton remains a leading player in the oilfield services sector, particularly in hydraulic fracturing and completions, with a strong financial position characterized by solid profitability and liquidity ratios. The layoffs reflect broader industry challenges, including reduced activity from operators and increasing operational pressures. Overall, while Halliburton is navigating a difficult market environment, it retains competitive advantages and is positioned for potential recovery according to analyst forecasts.