Thread regarding Baker Hughes layoffs

Baker hughes an energy technology company

Is this how they get out of the oil industry?
Transition is upon us it seems !
You reap what you sow !
Don't worry senior management golden parachutes a plenty I'm sure !

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Post ID: @OP+1c4Lz1Rq

5 replies (most recent on top)

What @1gdp+1c4Lz1Rq said is correct. Tech companies starting out have to be extremely agile and attractive to not even retain but simply attract top talent. Well paying, competitive, and forward thinking are not what oil companies are known for.

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Post ID: @7ghr+1c4Lz1Rq

Glad I took all my money from the 401K

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Post ID: @3zpb+1c4Lz1Rq

Wall Street is saying BH is buying $2 B of it stock back.
I wonder if they’re pulling a Jeff Emmett. Raiding the working class retirement pension to pay for the stock.
GE pension is $65B under funded and counting.
I’m glad I got my money out of Baker a long time ago. BH leadership isn’t going to buy back the stock with their retirements!

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Post ID: @3var+1c4Lz1Rq

Technology Company.....hahaha hahahahaha Hahahahaha 🤣 😆

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Post ID: @2srj+1c4Lz1Rq

BH doesn’t have (and can’t build) the workforce it would need to transition into being any kind of a tech company.

The idea of BH as an “energy tech” company is smoke and mirrors; they tied this to an overestimation of the value and currency of certain functions they retained within Digital when GE spun them off. The “tech” is antiquated, overpriced, and nobody wants it.

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Post ID: @1gdp+1c4Lz1Rq

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