Halliburton to cut jobs, take 4th-quarter charge
Article Abstract:
Halliburton Co. announced a reduction of 2,750 additional workers from its Energy Services Group over and above the 7,250 job cuts promised in October '98. The company recently completed its merger with Dresser Industries. The two companies used to employ a total of 100,000 people. Consolidation and plummeting oil prices account for the need to make further cuts to save money as customers plan to spend less on Halliburton's services.
Comment:
2,750 additional job cuts are a large part of the plan to regroup
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Heiligbrodt resigns as operating chief of Service Corp
Article Abstract:
Funeral home and cemetery operator Service Corp. International announced the departure of L. William Heiligbrodt as president and COO. With earnings down and new acquisitions not performing as well as expected, analysts thought there would be some turmoil at the top but not Heiligbrodt's resignation after his many years with the company, contributing to its success and growth.
Comment:
Pres. and COO resigns unexpectedly
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1999
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Exxon net income declines by 39%, but still beats Wall Street's forecasts
Article Abstract:
Exxon Corp. is the first major oil company to report its financial figures, reporting net income down 39% for the fourth quarter. Most other oil companies are expected to report profits down about 60%. Exxon is considered prudent in its capital spending and has thus far not announced any employee layoffs. The company's revenue dropped 14% for the year.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1999
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