Halliburton to Restructure KBR Unit
Halliburton Co. said it would restructure its KBR unit and might shed the business if the company’s stock performance continued to lag behind peers.
Halliburton, steeped in controversy over its contracts for work in Iraq, said it would save $80 million to $100 million by restructuring KBR and take $30 million in related one-time charges this year.
The company has been accused of obtaining U.S. government contracts through political influence and of overcharging for some of its work in Iraq.
Shares of Houston-based Halliburton rose 18 cents to $32.24 on the NYSE.
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