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Halliburton, Baker Hughes to lay off thousands as oil slumps

2015-01-21 13:37:32| Oil & Gas - Topix.net

Oilfield service providers Baker Hughes Inc and Halliburton Co plan to cut thousands of jobs as drilling activity slows further due to a steep fall in crude oil prices. Global oil prices have tumbled almost 60 percent since June, hitting five-year lows as growing production and tepid global demand has caused a supply glut and prompted oil producers to scale back spending.

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