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Halliburton to cut 650 jobs in U.S.

Christian Fernsby |
Halliburton on Wednesday said it was cutting 650 jobs across Colorado, Wyoming, New Mexico and North Dakota.

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Halliburton and its rivals that provide drilling equipment and services have suffered this year due to reduced spending by oil and gas producers amid weak prices. Spending by U.S. independent producers is projected to fall 11% this year, according to analysts at Cowen and Co.

Most of the affected employees were given the option to relocate to jobs in other locales where more business is anticipated.

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