HOUSTON (AP) — Halliburton will institute a mandatory furlough for 3,500 employees in Houston beginning next week amid falling oil prices.
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.
“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.