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Halliburton Splits Off Troubled Engineering, Construction Business

HOUSTON-Halliburton Corp., which once had Vice President-elect Dick Cheney at its helm, is restructuring its financially strapped engineering and construction business. The business will be a separate entity after sustaining a 21% drop in third quarter revenues.

By Jack Burney | Updated on December 26, 2000

HOUSTON-The city’s second largest employer, Halliburton Corp. will split off its troubled engineering and construction business into a separate entity, cutting senior management positions and tightening the operation.

Halliburton had signaled that action was pending when the divisions showed a third quarter decline of 21% in construction revenues. “They already said they were going to make some changes in their E&C business,” says a local analyst. “What we did not know was the extent to which they would be making cuts and the charges they would be taking.”

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