The recent slump in oil prices is forcing infamous oil services company Halliburton to cut as many as 6,000 jobs around the world.

Halliburton is just the latest oil industry company to have to make such a move, as oil has been plummeting severely for months now, making consumers happy but the oil industry skittish, according to a Reuters report.

Because of the oil market situation, the company expects to cut 6.5 to 8 percent of its workforce of 80,000 people, which would amount to anywhere between 5,200 and 6,400 jobs.

About 1,000 of those jobs were already cut in the eastern hemisphere in the last quarter of 2014, the company stated, noting that the layoffs would be felt across all of the company’s operations.

Ever since oil prices were cut in half since June, dropping all the way to below $50 per barrel, the oil industry has been scrambling to trim costs in order to weather the storm.

It’s had big impacts on infrastructure, with a notable drop in the number of rigs drilling for oil in the United States as drillers halt work in order to save money.

Tens of thousands of people have lost their jobs in the oil industry due to the market situation, with Halliburton being one of the biggest drivers of that figure with this announcement. In fact, Halliburton is buying an oil services provider — Baker Hughes — and will be laying off 7,000 employees as part of the $35 billion acquisition. Another major oilfield services company, Schlumberger, announced recently it would be slashing 9,000 people from its payroll, a 7 percent cut.

Halliburton has had a long and notorious history, with numerous scandals that made it a household name. One involved the 2003 Iraq War and the company’s ties to then-Vice President Dick Cheney, who retired from the company during the 2000 presidential election campaign after receiving $36 million in severance from Halliburton. The Iraq War proved very lucrative for Halliburton, which received a $7 billion contract, leading to allegations of favoritism.