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

Strategy & planning, Oil and gas exploration services, Oil & Gas Field Exploration Svcs, Support Activities for Oil and Gas Operations, Other staff changes & profiles, Planning, Employment, Oil fields, Natural gas field exploration services, Oil field exploration services, Halliburton Co., HAL, Petroleum workers

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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

Executive changes & profiles, Funeral Homes and Funeral Services, Funeral service and crematories, Funeral Services, Officials and employees, Funeral industry, Service Corporation International, SRV

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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.

Sales, profits & dividends, PETROLEUM AND COAL PRODUCTS, Petroleum, Petroleum and Coal Products Manufacturing, Finance, XON, Exxon Mobil Corp.

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