Weatherford cutting thousands of more jobs, selling fracking business

Weatherford International said it plans to sell its U.S. hydraulic fracturing business and its Middle East drilling rig division as it continues to cut jobs worldwide.

The financially struggling oil field services giant is focused on downsizing and debt reduction. Weatherford executives said Thursday they’re cutting another 3,000 jobs worldwide while closing additional facilities. Roughly 2,000 cuts are already made — about half late last year and the other half in January — with another 1,000 layoffs on the way.

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