Thread regarding Halliburton Co. layoffs

Where Will HAL execute on cost savings

Citigroup – Analyst

Got it. And then on the $300 million of cost savings, obviously, you'll get a bit in 4Q. Could you just provide a bit more color on how that phases in over the next few quarters and whether there is any offset in terms of severance or facility closure cost and how large those could be?

CFO
Yeah. xxxxx, I'm not going to get into the details today on that. I think the point is, is that we're focused on lowering our service delivery costs. And I think then – probably the most important point is that we're being decisive, right. We're looking to move quickly around cost reductions in North America. We've seen some of those actions – seen some of the benefit of those actions that we took in 2Q. I'd just say stay tuned over the course of the next couple quarters.

The message: Layoffs are one solution

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Declining activity in U.S. shale fields continued to sting Houston oilfield service company Halliburton during the third quarter where the company stacked more hydraulic fracturing crews and deployed other cost-cutting measures.

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