Thread regarding Halliburton Co. layoffs

Halliburton executive leaves company, energy industry

One of Halliburton's executives has left the company to start a new job in Colorado.

Cindy Patman, now the former senior director of corporate affairs and diversity initiatives at Houston-based Halliburton Co. started her new job on March 1 as vice president of human resources in the Denver area with Orica USA Inc., a unit of Australia-based Orica Ltd., which provides commercial explosives to the mining and infrastructure markets.

Patman's history with Halliburton started in 1990, and she moved up the human resources ladder through the years, playing key roles in Halliburton’s integration of Dresser Industries Inc. in 1998 and later on the opening of its second headquarters in Dubai.

"We congratulate Cindy on her early retirement from Halliburton and thank her for her many contributions to our company. We wish her the best in her future endeavors," said Halliburton Spokesperson Emily Mir.

Patman, a vocal advocate for women in the energy industry, was one of the Houston Business Journal's Women in Energy honorees in October.

Patman's departure comes at a time when Halliburton is shedding jobs left and right. Most recently, on Feb. 25 Halliburton said it would be cutting an additional 5,000 jobs worldwide, on top of the 4,000 jobs that company cut in the fourth quarter. Halliburton is in the process of acquiring Houston-based rival Baker Hughes Inc. in a $34.6 billion deal that has hit regulatory delays in the U.S. and abroad.

Most recently, the European Union’s regulatory authorities said they would suspend their deadline to review the deal, which could push the final decision into the summer.

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Post ID: @OP+Gd82vxy

5 replies (most recent on top)

So many disgruntled former employees who have nothing better to do than hate on others. People need to suck it up and get on with your lives instead of being an anonymous internet badass.

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Post ID: @3qas+Gd82vxy

If you let go of 2/3 of worthless managements, the company will rise again!

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Post ID: @2xcl+Gd82vxy

What, if anything, did she contribute, other than political correctness?

As it is, a worthless title holder who fled a sinking ship.

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Post ID: @1knk+Gd82vxy

well, this is not going to go over well for halliburton's prized women's initiative program. as if that program would serve the purpose of promoting the company in a positive light....

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Post ID: @1kef+Gd82vxy

Halliburton was another stock in which ValueAct reduced its stake significantly during the fourth quarter.

The fund sold over 20.6 million shares, reducing its holding to 16.5 million shares worth $561.81 million as of December 31. ValueAct was betting on Halliburton Company merger with Baker Hughes Incorporated by acquiring a substantial stake in both companies.

Hence, it is quite possible that by reducing its stake in Halliburton, the fund tried to reduce its overall exposure to the deal, considering that stocks of both companies have plummeted heavily in the last few months and the deal is facing a lot of regulatory hurdles.

To reduce its capital expenditure further, Halliburton Company has announced that it would lay off 5,000 employees, which brings its total workforce reduction to around 30,000 since 2014 when headcounts peaked.

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Post ID: @1bjx+Gd82vxy

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