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Sep. 11, 2015, 10:21 AM
- Drilling services company PHX Energy Services (OTC:PHXHF -13.2%) says it has cut its monthly dividend for September to a fraction of a cent, and will switch to quarterly payments of C$0.01/share starting in January.
- Citing the fallout of slumping oil prices, it also says it will cut its workforce by nearly 50%, or more than 500 employees, after reducing salaries by 5%-20% earlier this year.
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