Oct 13, 2015, 2:58pm MDT
Energy company Halliburton Co. has confirmed to Business First that a number of employees were laid off in the Hobbs area last month.
According to Susie McMichael, senior public relations representative for the company, "current business conditions" motivated a reduction in workforce around the state — including in Farmington, Artesia and Hobbs.
We are committed to ensuring employees (are separated) with dignity and respect. Halliburton will continue to monitor the business environment and will adjust the size of our workforce to align with current business demands as needed," she said. McMichael would neither confirm the number of staff affected nor whether more layoffs could occur in the near future.
Data from the New Mexico Workforce Connection shows Halliburton employs as many as 58 in Hobbs, up to 49 people in the Carlsbad area and 100 to 249 people in Farmington.
The layoffs are the latest in a series of staff reductions undertaken by the Houston-based company over the last year. According to news reports, in August, the company laid off several staff at both its Artesia and Farmington locations.
The energy industry in New Mexico, and elsewhere, has suffered significantly over the last year with declining oil prices; several New Mexico companies, including Yates Petroleum Corp. in Carlsbad, have laid off employees over the last year and ConocoPhillips (NYSE: COP) confirmed to Business First last month that it would lay off 10 percent of its global workforce in the coming months.
Over the last 15 months, the price per barrel of West Texas Intermediate (WTI) crude oil has dropped from $106 in June 2014 to $46.50 at the close of the markets Tuesday.