In additional economic news:

Houston-based Halliburton confirmed yesterday that it has cut nearly 14,000 jobs since last year, as fellow giant Baker-Hughes (with which Halliburton is attempting to merge) has cut 13,000 in response to the oil downturn. Those figures, according to FuelFix, represent several thousand more jobs than the last time the oil field service companies gave an estimate of their planned layoffs in April. Halliburton’s latest layoff estimate exceeds its April figure by 5,000 jobs, bringing its cuts up to 16 percent of its workforce. Baker Hughes’ estimate is up by 2,500 jobs, up to 21 percent of its workers. FuelFix notes that the latest numbers mean that the world’s Big Four in oil field service (Schlumberger, Halliburton, Baker Hughes and Weatherford International) have either cut or planned to cut 58,000 jobs this year.

Read full coverage from FuelFix here.

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