The GE virus has done its job. . . . Eroded this once great company down to the bone and now is going to be sold off as a shell of what once was... Sad.. but they bought BHI.. they decided what to do.. unfortunately they destroyed thousands of careers in the process
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Check out Lumen Technologies on The Layoff.com The parallels are uncanny.
GE found out Aberdeen’s performance was a disgrace and embarassing
@2qsx+1tmD7xpa they picked a very good dumpster although probably it was already amost full. It was maybe once empty.
You would have to be d-mb as a rock not to see why GE bought BHI.
Yes, GE would have been better off without BHI acquisition; however, they did it to themselves! GE should have NEVER ventured into the oil and gas industry...then, when they realized that, they couldn't sell off the Oil and Gas division for love nor money. So, they had to put some lipstick on the pig by buying BHI. They basically used BHI as a trash can into which they tossed their Oil and Gas Division. Would love to someday know the entire truth behind the failed HAL deal and the subsequent GE deal. There's probably people that should be in jail for the entire mess.
The legacy Baker Hughes was desperate to be acquired. If the acquisition by HAL would have been successful, it would have been a blood bath fir BH's employees. The acquisition by GE was a terrible deal for GE as they paid an over inflated price for what BH was really worth and as they had to sell lots of shares shortly after at a much lower price. On top of that, the work environment became toxic after thevacquisition. So, although many self righteous folks here blame GE for BH's failures, I can assure you that GE would have been much better off without BH's tu-d acquisition. Can you say the same for legacy BH?
Nah he is right, Saudi Arabia working conditions are pretty horrible.
Speaking as a part of the legacy GE Oil & Gas, all I can say is that the Company went downhill pretty fast after the merger. The "once a great Company" legacy Baker Hughes was already a "once a great Company" in my opinion at the time of the merger. The combination of BH "new culture" and ex GE managers ki-led the Company and a lot of managers that should really have been shown the door ages ago managed to climb the career ladder and get to positions that they never should have covered. The cultural change has been radical and the organization became very dysfunctional. In my opinion it will never get back on its feet, it is destined to decline steadily and now, thanks to MCB and the other clowns in top management faster and faster. the 25% EBIDTA by 2025 is impossible to reach and they will have to cut even more employees to just show to the markets that they are streamlining the organization and to achieve a very short term saving without understanding that the long term future of the Company is in jeopardy thanks to these poor organizational decisions. Good luck to who will be left to see how this pans out, I do hope you will get a package out of them.
@tnz+1tmD7xpa ... I think I speak for everyone on this forum when I say that if I had to choose between saving you from drowning and sticking my bare foot in a fire ant pile for 2 hours...I'm choosing the fire ants every time. I h*te you more than Baker Hughes, you worthless pile of garbage.