Thread regarding Baker Hughes Inc. layoffs

So what to all those on H1B's do when the rest of us are taking our "extra holiday"without pay? They got no 5% reduction and they still get the extra holiday? Seems to me that they should pull all the H1B's for those in the US and send them packing and give those "special jobs" back to US citizens that have lost theirs.

Furloughs can not be applied in certain countries without employee agreement due to legal restrictions.

To be blunt it is not a suprise that Houston management make statements that seem to cover the whole company..they are just buffoons and dont talk to their own people.

Include 35% of your salary for benefits/tax costs. So $50k is actually closer to $70. That manager who makes $100k costs the company $135, etc.

Wow I wish I was a $100k employee. Shiit I'm only worth <$50k, and I'd be willing to be most employees are in that same ball park. It's really only managers with a base over even $70k. I suppose there would be 22k managers and 14k workers, that sounds about right, wouldn't you think ?

I'm part of one of these corporate support functions when it suits their purposes and I'm not part of one of these corporate support functions when it suits their purposes. My guess one has to be at a certain grade level or higher to not be getting f#cked.

Not all US employees are being furloughed. If you would read the email, you would see that many chemical employees in operations and plants, corporate finance, IT, HSE, security, everyone on an H1-B visa, and most commercial strategy/enterprise technology are excluded from the furlough. So are all employees that report to Global Operations.

I'm not sure where this $7M number came from, but it sounds reasonable. Hypothetically, let's say the furlough affects half of BHI's 36k employees. Assuming a cost to BHI of $100k/yr/employee for wages/benefits, that's a savings of $7.5M over the furlough period.

I would be willing to bet there are more US employees than there are international employees. Anyone with legit Intel able to verify that? For example I'm pretty certain Canada has less than 1200, hell after Q2 I would be surprised if there were more than 500 Canadian full time Bhi personnel

The email we sent, as well as the announcement on bhos says it is only for us employees. So not all 36k employees.

Sounds right take 108 million don't sound like 7 million too me

I heard from a friend still working at CTI that the 5% cut applied to them too.

Value Act , Fidelity and Vanguard are on your doorstep .Watch what happens in November . It's understandable to lose money in a bad market . But the choices BHI has taken to get healthier are not working out and people want to know why. BHI has the mother of all breakup fees and this is upsetting some people what they chose to do with it . STOCK BETTER RISE BEFORE THE END OF THE YEAR.

Yeah, One Baker Hughes was an abject failure. Moreover, I've never seen such a poorly organized company. There's absolutely no incentive for different groups or product lines to work together. They act as independent, competing mini-companies' charging each other internally for their services. What a retarded system. No wonder SLB kills us.

BAKER ONE!!! The oil industry has taken a hit but Baker Management will help guide us through this. I am happy that it is only 5%. And I also think that throughout my career with Baker Hughes I will get that back ten fold and more.This is still a great company to work for and allthough our 401k is temporarily unmatched we still have our pention.Lets all pull together and try to make this company profitable again.Think positive!!!The oil market will bounce back.

Houston BOT has not received the email. Is this global or only certain facilities.

This sums it up Mr @J2g6HWp

buying back secondary stock to bump up their own bonuses

is this worldwide? any news of this happening in houston?

Craigheads annual income totals 14 million. If he took the 5% cut himself that would be 280,000. The average worker in Houston sits somewhere between 30-60K that's a 1.5k-3k cut. We were told it was a total of 7million dollars in savings from the go/furlough program. 7 million, that's it? There's approx. 36k employees. If you took 36k and multipled it by 3k in cuts you arrive at 108M in savings. And I used 60k annual salary in that example. Somethings both adding up here. They are lieing to us big time here. How did they only save 7M when the math pans out to 108M. That's not even counting the big dix who make millions in income.

yes! kick the bums out

Is the 5% reduction worldwide and does it affect everyone, top brass down?

Original poster is dead on. WAY TO GO!!! OOH RAH.

Aye

The conclusion is that BHI is in a completely chaos.

I wish the folks who run this site would enable a like capability.