Duncan Halliburton employees laid off - KSWO 7News | Breaking News, Weather and Sports

Duncan Halliburton employees laid off

(Source Halliburton) (Source Halliburton)

DUNCAN, OK (KSWO) -Halliburton has confirmed another round of layoffs as the industry continues to struggle with lower oil prices.

The company issued a statement about its Duncan plant.

“Halliburton will continue to monitor the business environment and will adjust the size of our workforce to align with current business demands as needed. We value every employee we have, but unfortunately we are faced with the difficult reality that reductions are necessary to work through this challenging market environment.”

The company did not comment on how many people were laid off in Duncan, but says globally, 5,000 people will lose their jobs.

Oil prices have tumbled about 70 percent since peaking above $100 a barrel in mid-2014. That has led to less drilling activity and widespread layoffs in the oil fields.

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