The company sharply cut or eliminated managers’ bonus opportunities, and it plans to continue base salary cuts for executives and senior managers. Additionally, Halliburton has suspended a 4 percent basic contribution it makes to employees' 401(k) plans, according to a spokesman. However, the company will continue to fully match the first 4 percent an employee contributes, as well as half of the next 2 percent, the Houston Chronicle reported.
And of course, there are the job cuts themselves. Late last month, the company disclosed plans to cut another 5,000 jobs, bringing the company’s total to about 26,000 to 27,000 job cuts since its peak employment in 2014.