Mass layoffs in the oil industry increase every day

Halliburton plans to axe 7,000 employees - seven times more than what the company announced just a few weeks ago. French Total is also preparing large-scale layoffs.

Photo: David Zalubowski/AP/POLFOTO

The scope of mass layoffs among companies in the oil industry seems to grow bigger every day. Financial Times now reports that Halliburton is warning that upwards of 7,000 employees could be laid off - far more than the company announced just a few months ago.

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