Is it 10,500 more additional cuts from the 7,000?
24 replies (most recent on top)
What is RIF?
Wouldn't be surprised if total is at 20000 by end of Q2 - RIF has been taking place at Aldine last two weeks which is more people in addition to the 10500 that was reported for Q1.
60% !! Where did you get that figure.
That is 37500 lay offs
Expect 60%+ of Baker employees and product lines to be laid off and divested.
Remember that Halliburton will cut in to Baker ranks heavily once the merger is complete. Many Baker jobs overlap with Halliburton in all the different divisions. The 10500 workforce reduction will increase dramatically then, so this figure should only be seen as the initial figure for layoffs. The final true figure for Baker lay offs will be much much higher.
http://www.marketwatch.com/story/why-baker-hughes-is-cutting-more-jobs-than-rivals-2015-04-21
"During the first quarter we took necessary actions to reduce our cost base and resize our footprint to mitigate current market conditions. These actions include the closure and consolidation of approximately 140 facilities worldwide along with the idling or impairment of excess assets and inventory," said Baker Hughes Chairman and Chief Executive Officer Martin Craighead. "Correspondingly, we made the decision to increase our headcount reductions to a total of approximately 10,500 positions, or 17% of our workforce, which is 3,500 positions higher than what we previously announced. Combined, these actions are projected to reduce cost by more than $700 million on an annualized basis."
Oh you wish, a reduction in 3500!!! Screw your head back on or are you having a laugh?
You who have trouble with reading comprehension may be next. When earnings reports come out and show losses on the order of half a billion investors want to know what action is going to be taken. In this case, the action will be a reduction of an additional 3500 in headcount in Q2.
Please do not get hung up on the 10500 figure. This will be an absolute minimum, and no doubt be a lot higher when Halliburton start chewing on Baker.
. Correspondingly, we made the decision to (increase)**our headcount reductions to a total of approximately 10,500 positions, or 17% of our workforce, which is 3,500 positions higher than what we previously announced
plain toasted
the guy who said 10500 already cut is wrong;;;;;toasted
Maybe they say in May 1st announcement?
As the guy said above, 10.5 K is allready cut. There might be more layoffs but of that they say nothing
The extra 3500 could easily be filled with dinosaur directional drillers. Would not be missed one bit
Please learn to read!!!!!
I'm not scared. I don't even work there.
It's clearly stated that 10500 has already been laid off However the possibility for more is not yet ruled out. 17 % BHI ( 10500), 15 % slb (20000) and 10% Hal ( 9000).
Thank you for that Dr Evil.
However it is no laughing matter.
That means 1 in 6 of you are going to be layed off.
Just take a long hard around your office and think, is it me.
100,000,000 layoffs coming.
now just because they say increase from 7,00 to 10,500 doesn't mean they will stop at the additional 3,500. Also this is a world wide reduction so it's anyone's guess as to where the cuts will come from. I wish us all the best of luck with either staying or going. it's not even a matter of seniority or work ethic anymore it's who you know. just my humble opinion.
It's not an additional 10.5k, it's an increase from the original 7k number.
http://fuelfix.com/blog/2015/04/21/baker-hughes-increases-layoffs-to-10500/
where did you get the 10,500 from? just curious.