Halliburton will cut 1000 jobs in its eastern hemisphere offices as a result of falling oil prices.
The oil services company, which recently announced a $34.6billion merger with Baker Hughes, said the losses will be made in Europe, Africa, Asia, Australia and the Middle East.
A spokesman for Halliburton said the decision was not an easy one, but “necessary”.
He said: “The decision to eliminate jobs is never easy. Our talented workforce is the foundation of everything we accomplish.”
“Yet, we believe these job eliminations are necessary in order to work through this market environment.”
The company expects restructuring charges of around $75million following the decision.
Earlier this week, BP announced it would be making cuts to its staff across the world,
Contractor company SBM Offshore said yesterday 1,200 jobs would go within the next two years.