At least 20% reduction of headcount at BHI planned for 2017
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GE will be terminating many Baker people. The Baker current management is the least capable in the O&G industry , Everything this current staff has touched has been ruined. Stockholders want results.this BHI group needs to be gone.
BHI BOD speaks wi' yin voice. We waant hee haw tae dae wi' GE. A' body kens LG ur th' best.
BoD dinna wont ony GE
Cut BH salaries by 30% f---em
Blame your stupid management for the cuts.
You are very wrong BIh3-kug, it will be you slugs that will be taking a cut in pay.
Another thing is the onset of electric cars. The world can't keep burning fossil fuel which would eventually smother us so there'll be a big push to go electric over the next 10 yrs. This means there's not the incentive there was before to go all out and explore for oil. Why would there be if fracking is so cheap and very productive. This means it'll be a long time before service companies get their rates back to where they were before and this means that oilfield salaries have to drop to keep business interested.
Thought GE got rid of the bottom 10% annually to drive performance? This weeds out those not adding value and should be encouraged.
Oilfield prices are squeezed and may never recover so BH salaries should also be adjusted to maintain the margin equilibrium. They have nowhere else to go anyway so will accept proportionate cuts.