HOUSTON, Texas (KTRK) -- Schlumberger is the latest Houston-area oil company to furlough employees due to the economic hardships brought on by the coronavirus pandemic.
The company told ABC13 it will be instituting furlough programs, modifying work schedules, and will voluntarily cut executive salaries by 20 percent.
The announcement comes after Halliburton announced at least 600 employees will be laid off in Texas and Oklahoma.
SEE ALSO: Halliburton laying off at least 600 employees in Texas and Oklahoma
At least 350 jobs will be cut in Oklahoma, according to a filing with the Oklahoma Workforce Development Office.
In Texas, the state was notified that cuts will affect a total of 275 employees at two locations.
Fellow oil and gas companies sent ABC13 the following statements regarding employee layoffs, furloughs and pay cuts:
"Chevron routinely evaluates its corporate structure with an eye toward capturing efficiencies and directing resources where they will generate the most value. Last year, the company began proactively evaluating existing operating models and structures, workflows and processes to better position Chevron as our operational footprint has changed and markets have shifted. The company is responding to current market conditions with the same approach toward efficiency and value, which will have an impact on both contractors and our workforce."
"We have no plans to do so [furlough workers] at this time."
"Unfortunately, Halliburton is making reductions at our Duncan field camp in Oklahoma and locations in Texas as we adjust our workforce to reduced customer activity. This was a difficult decision, but is a necessary action as we work to successfully adapt to challenging market conditions."
"In the current extraordinary business environment resulting from the coronavirus pandemic and the oil-price correction, Schlumberger's executive and senior management team will, on a voluntary basis, reduce their base salary by 20 percent, effective April 1. In addition, support personnel worldwide will adopt modified work schedules resulting in salary reductions subject to applicable country laws. In North America, Schlumberger will accelerate the restructure of its land-based operations, including reductions in personnel and instituting furlough programs, by business line and location, currently anticipated to run over the next couple of months."
The video above is from previous reporting.
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Houston Schlumberger location furloughs employees and cuts executive salaries