HOUSTON (CBSDFW.COM/AP) — Oilfield service company Halliburton has announced it will institute a mandatory furlough for some 3,500 employees in Texas.
As oil prices continue to fall, the company will send the workers from Houston campus home beginning next week.READ MORE: Puppy Taken At Gunpoint From Owners Looking To Sell It Recovered By Forney Police
The furlough will begin Monday and will last up to 60 days, company spokeswoman Emily Mir said Wednesday.
During the furlough, affected employees will work one week on followed by one week off, the Houston-based company said. Employees will maintain their benefits, including health insurance, during the week off but will not be paid.READ MORE: Man Shot During Attempted Carjacking Outside Uptown Dallas Restaurant
“We believe moving to this schedule will allow us to best manage costs and provide full benefits for our employees during this difficult market,” Mir said.
Oil and gas prices began to tank after the implosion of an alliance between the OPEC cartel and Russia earlier this month.MORE NEWS: Texas Sen. Ted Cruz Slams CDC's Updated Mask Guidance For Fully-Vaccinated People, Calls It A 'Mandate'
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