CHRON: Weatherford International laying off 6,000 workers

Oil and gas companies announced plans to cut more than 6,400 jobs on a grim day for the industry that saw the price of crude oil settle below $20 for the first time since 2001 and the amount of petroleum in U.S. storage rise by nearly 20 million barrels.

The most job losses came at Weatherford International, the Houston-based oil-field service company, which said Wednesday that it plans to cut 25 percent of its global workforce. A breakdown of where the layoffs will take place was not immediately available but the company had said it employed about 24,000 workers at the beginning of the year — meaning it will shed 6,000 jobs.