Halliburton Cuts 36 Jobs at Broussard Facility
The Louisiana Workforce Commission has been notified by Houston-based Halliburton that they have laid off 36 workers at the company's Broussard facility. Those layoffs took place on April 14th according to the WARN NOTICE that was published.
Oil field and oil field service companies have been hit especially hard by the plummeting price of oil over the past several months. For a short time earlier this week, some West Texas oil futures were actually trading in the negative.
Halliburton is certainly not the only business that services the oil patch that has suffered layoffs. Many other companies that operate in South Louisiana have reported layoffs, furloughs, and the elimination of positions in response to the drop in price.
Some oil industry analysts have noted that oil prices have rebounded slightly since the big dip earlier this week. That increase in price per barrel should not affect what you and I pay for gas at the pump. In fact, some analysts suggest that gas prices could be dropping another .20 to .40 cents per gallon in the coming weeks.
While that's good news for motorists, it certainly doesn't bode well for the hundreds of thousands of Louisiana residents whose incomes are driven directly or indirectly by activity in the oil field.