Halliburton on Tuesday confirmed workers have been laid off at the company’s technology center in Duncan.
A company spokeswoman in Houston declined to say how many employees were laid off.
“This information is for Duncan only and I do not have any additional information at this time,” Emily Mir, Halliburton public relations director, said in an email to The Duncan Banner.
A Halliburton spokeswoman last week said no layoffs had been announced in Duncan while rumors about layoffs were plentiful on social media outlets in the area.
Since then, a Halliburton employee who asked to remain anonymous, said about 12 workers had been laid off in the technology center.
“Halliburton continues to make adjustments to its workforce based on current business conditions,” said Mir, the company spokeswoman. “While these reductions are difficult, we believe they are necessary to work through this challenging market. We will continue to monitor the business environment closely and will make adjustments to the cost structure of our business as needed.”
Halliburton, an oilfield services and equipment company, employs about 80,000 people in 80 countries.
Halliburton is the top employer in Stephens County with about 2,838 employees.
The global price of crude oil has lost more than half its value since mid-2014 as a result of abundant supply and weak demand.
“The good news at the pump for motorists is tempered with the realization that in the U.S., where the cost of oil extraction is more expensive than elsewhere in the world, producers may be forced to reassess their plans to factor in profit margins that are sharply lower or even reversed,” said Chuck Mai, a spokesman for the Automobile Association of America in Oklahoma.
“Many small oil-patch companies have already been doing this. And, of course, gross production tax revenues going into state coffers will be down dramatically.”
Oklahoma motorists are paying 48 percent lower prices than 2014’s peak price of $3.53 per gallon, according to AAA Oklahoma.
“Barring any major increases in the global price of crude oil, we really expect the national price for regular gas to remain below $3 in 2015,” Mai said. “It’s likely the Oklahoma average won’t rise above $2.70 all year.”
This article was written by Rachel Snyder from The Duncan Banner, Okla. and was legally licensed through the NewsCred publisher network.