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Started By
Message
Baker Hughes to lay off 7,000 employees
Posted on 1/20/15 at 12:16 pm
Posted on 1/20/15 at 12:16 pm
LINK
quote:
The company (Halliburton), which employees more than 80,000 people, said it cut 1,000 jobs in its operations in the eastern hemisphere in the fourth quarter.
Baker Hughes, which is being acquired by Halliburton in a near-$35 billion deal, said earlier in the day it would lay off 7,000 employees.
quote:
Baker Hughes said most of the workforce reduction would take place in the first quarter, when it expects to book a one-time severance charge of $160 million to $185 million.
The company, which had 61,100 employees as of Sept. 30, said it was also considering closing facilities.
Halliburton, said it took a $129 million restructuring charge in the fourth quarter ended Dec. 31 to "temper the impact of anticipated activity declines".
Lesar said Halliburton was committed to closing its deal with Baker Hughes, adding that the transaction was "more compelling" now than when it was announced in November.
This post was edited on 1/20/15 at 12:22 pm
12
Posted on 1/20/15 at 12:19 pm to GEAUXmedic
Boy I hope gas goes up to $5 a gallon so all of these folks can live above their means and drive F350's. Wait a minute! No I don't.
ETA: My work here is done. Seven pages of Yea and Hate for the same comment that has been in every one of these threads for the last six weeks. Is this how a Troll works?
ETA: My work here is done. Seven pages of Yea and Hate for the same comment that has been in every one of these threads for the last six weeks. Is this how a Troll works?
This post was edited on 1/20/15 at 2:27 pm
Posted on 1/20/15 at 12:20 pm to jbgleason
quote:
I hope gas goes up to $5 a gallon
it is like welfare for all the uneducated oil field hands
Posted on 1/20/15 at 12:20 pm to GEAUXmedic
There are two industries I would never want to be an IT guy in. The IT Field and Oil/Gas.
Glad I got out of it.
Glad I got out of it.
Posted on 1/20/15 at 12:20 pm to jbgleason
quote:
Boy I hope gas goes up to $5 a gallon so all of these folks can live above their means and drive F350's. Wait a minute! No I don't.
You must be a yankee...
Posted on 1/20/15 at 12:20 pm to GEAUXmedic
So Baker laid off 7k employees. Not Halliburton. Still two separate companies.
Posted on 1/20/15 at 12:21 pm to KG6
Am I reading that right that the layoffs are from the overseas jobs?
Posted on 1/20/15 at 12:24 pm to KG6
quote:
So Baker laid off 7k employees. Not Halliburton. Still two separate companies.
But wasn't it Halliburton's decision based on its recent acquisition of Baker Hughes?
It's unfortunate, but employees there had to be known of the inevitable. With Halliburton's respected corporate culture on your resume, I'm sure a lot of these employees shouldn't have a difficult time landing another job
Posted on 1/20/15 at 12:24 pm to jbgleason
quote:
Boy I hope gas goes up to $5 a gallon so all of these folks can live above their means and drive F350's. Wait a minute! No I don't.
Do you idiots not realize that the economy of south Louisiana relies heavily on the oil/gas industry??
It doesn't matter what field you work in, everyone is affected. You must be too young to remember the huge crash in the early to mid 80's.......
I live in Lafayette and really hope it goes up as soon as possible.........
This post was edited on 1/20/15 at 12:26 pm
Posted on 1/20/15 at 12:31 pm to jbgleason
quote:
Boy I hope gas goes up to $5 a gallon so all of these folks can live above their means and drive F350's. Wait a minute! No I don't.
I think there is a middle ground between being personally happy for lower energy costs while realizing that there are going to be a very real human costs associated with it.
A lot of families will be going through some hard times and not all of them were spendthrifts that blew their checks on whiskey and truck nuts.
This post was edited on 1/20/15 at 12:32 pm
Posted on 1/20/15 at 12:34 pm to Walking the Earth
Yeah suddenly low prices are a travesty. Yet when other industries suffered these same people were praising free trade for getting us lower prices. No one was too worried about steel workers etc back then.
Posted on 1/20/15 at 12:36 pm to GEAUXmedic
I hope by the 50th thread on layoffs that all proceed the same way, we can eventually all acknowledge:
A) Lower energy prices are good for America
B) People losing their jobs due to an industry in transition still sucks
A) Lower energy prices are good for America
B) People losing their jobs due to an industry in transition still sucks
Posted on 1/20/15 at 12:36 pm to tigerbait2010
quote:
But wasn't it Halliburton's decision based on its recent acquisition of Baker Hughes?
Halliburton has an agreement to buy Baker if all things go accordingly, but they do not own any of it yet. I don't know how that works as far as making those decisions, but ultimately that is Baker. If Halliburton is influencing the decision, that's one thing, but they didn't tell Baker "go lay off this many people".
Posted on 1/20/15 at 12:37 pm to biglego
quote:
No one was too worried about steel workers etc back then.
A lot of people were. There were articles and news segments all over the place about jobs being lost and stuff.
Hey, personally I love sub two buck gas. I guess I'm just not a total prick and feel the need to dance on other people's financial graves about it.
Posted on 1/20/15 at 12:38 pm to TH03
quote:
that's much more important than some oilfield trash
exactly, probably about 1k landmen out of work in Lafayette over the last 3 months
Posted on 1/20/15 at 12:38 pm to Walking the Earth
quote:I agree with this, however I think the general board schadenfreude of "haha look at the oil field pain" is a result of two things.
A lot of families will be going through some hard times and not all of them were spendthrifts that blew their checks on whiskey and truck nuts.
1. The constant chest thumping of O&G workers on this board bragging about their pay and days off.
2. The relative lack of sympathy shown to other industries that have also had major downtimes in the past several years.
Just my $0.02.
Also, in general, low energy costs are good for the overall American economy.
Posted on 1/20/15 at 12:39 pm to TH03
I'm pretty sure people in south Louisiana care more about their economy than the economy wherever you live.. 
Posted on 1/20/15 at 12:39 pm to GEAUXmedic
Don't care. Can fill up my hybrid for $14.
Posted on 1/20/15 at 12:40 pm to yellowfin
bummer. when the haynesville happened everyone and their buddy wanted to be a Landman with no experience because they heard about the money you could make.
tough shite, you should've listened to the people telling you the risks. it's not like the best and brightest are getting fired. it's the old fricks who won't retire and the young slackers who suck.
tough shite, you should've listened to the people telling you the risks. it's not like the best and brightest are getting fired. it's the old fricks who won't retire and the young slackers who suck.
Posted on 1/20/15 at 12:40 pm to yellowfin
quote:But it only costs me $28 to fill up my car.
exactly, probably about 1k landmen out of work in Lafayette over the last 3 months
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