Halliburton confirmed Friday that it cut another 6,000 jobs during the first quarter.
Halliburton chairman and CEO David Lesar said the company cut the jobs in response to low oil prices and falling rig counts.
“Responding to the reality of the market, we force-fit our employee headcount to available activity levels. This provides sustainable structural savings without compromising our ability to add personnel to serve the market when it recovers,” Lesar said.
Since oil prices began falling in late 2014 Halliburton has reduced its global headcount by about one-third.
Houston-based Halliburton has also closed, or is currently in the process of closing, over one hundred different service points worldwide.
“These closures ranged from elimination of underutilized stock points to the consolidation of individual service centers,” Lesar said.
Lesar added that Halliburton will also reduce infrastructure it had maintained in anticipation of its pending merger with Baker Hughes.
“We are not making any decisions that would permanently impair our logistical infrastructure, or ability to flex back up, but we see no scenario in the current market where we need this additional infrastructure,” Lesar said.
Earlier this month, the U.S. Department of Justice filed a civil antitrust lawsuit to block the proposed $35 billion merger between Halliburton and Baker Hughes.
The DOJ said in a statement that the proposed transaction would eliminate “important head-to-head competition in markets for 23 products or services” used for onshore and offshore oil exploration and production in the United States.
Halliburton and Baker Hughes said they “intend to vigorously contest the U.S. Department of Justice’s effort” to block the merger.
The companies previously agreed to extend the time period under the merger agreement to obtain regulatory approvals to no later than April 30, 2016.
After that time, the companies can continue to seek relevant regulatory approvals or either of the parties may terminate the merger agreement.
Halliburton’s total company revenue fell to $4.19 billion for the first quarter of 2016, down from $7.05 billion a year ago.
The company’s Completion and Production segment booked an operating income of $30 million, down from $462 million in the year ago quarter, on $2.32 billion in revenues.
The Drilling and Evaluation segment saw its operating income fall to $241 million in the first quarter compared to $306 million a year ago as the segment’s revenues dipped to $1.87 billion from $2.80 billion in the year ago quarter.
North America operating income fell to a loss of $39 million on $1.79 billion in revenues.
Latin America operating income dropped to $48 million, down from $122 million a year ago, on $541 million in revenues.
Europe/Africa/CIS operating income fell to $57 million on revenues of $778 million, down from $1.09 billion in the first quarter of 2015.
Middle East/Asia operating income ticked down to $205 million on $1.08 billion in revenues.
Halliburton has pushed its first quarter conference call back from April 25 to May 3.