Baker Hughes isn’t the only oil and gas company to perform layoffs in recent months. Sort by . Baker Hughes moved this week to layoff 234 workers at its Oklahoma City offices, blaming the COVID-19 pandemic and resulting oil price crisis. Legacy Baker Hughes Pension Plan. Posted in 2009, Energy Industry, Layoffs, Layoffs by State, Oklahoma Tagged with 2009 layoffs , Baker Hughes layoff , Baker Hughes layoffs , layoff , Layoffs Pages Baker Hughes & Halliburton: 8,000 jobs The two energy companies agreed to merge last autumn, and both ended the year strongly, with Halliburton posting revenues up nearly 15% and Baker Hughes achieving record revenues for the quarter. After the layoffs, the oilfield service company will still employ roughly 250 workers in New Mexico, Kania said. Baker Hughes, the oil-services major, said it would take a first-quarter non-cash goodwill impairment charge of $15 billion. It certainly was shocking today. The layoffs represent an about 11 percent cut to the 62,000-plus employees Baker Hughes said it employs worldwide. Read full article. hide. We are following guidance from the World Health Organization (WHO), the Centers for Disease Control (CDC), and local government regulations and containment measures. "This industry can't simply hope and wait for oil to climb back over $100 a barrel. Aramco and Baker Hughes commence construction on non-metallics joint venture in Saudi Arabia Business Wire (Press Release) 11:07 8-Dec-20. U.S. weekly offshore rig count up a notch Offshore Energy 08:05 7-Dec-20. Kinder Morgan, Enbridge and numerous other companies have ordered their Houston employees to … share. Baker Hughes also operates an Artificial Lift Research and Technology Center in Claremore. Baker Hughes wasn’t even the first North Dakota oilfield company to mass terminate employees this month. Learn More. Plan and save for your retirement with the 401(k) Plan. These decisions are never easy because it affects our colleagues and friends. We started hearing about layoffs happening at Baker Tilly on Wednesday afternoon after we received an email from someone who lost their job and was given a month severance. Learn More. Baker Hughes is the latest major employer in Houston to order employees to work from home. Very impressed with Baker Hughes . 98 comments. Akin Oyedele . Instead we must adapt to a new reality of sustained lower commodity prices," Martin Hughes, the chairman and chief executive, told analysts in a conference call. This person told us that two weeks ago the firm announced partners were taking “substantial” pay cuts in an effort to keep staff employed. oil rig visit inspect (Hulton Archive) The response to the oil crash has been brutal. According to Baker Hughes spokesperson Melanie Kania, the decision to close the facility was made “This decision comes after a careful review of how best to adjust our operations to best align where future business and opportunity exists. Baker Hughes wants to lead the energy transition by investing in advanced technologies so that its customers will have net-zero carbon emissions by 2050. In Minot, Pumpco Energy Services closed its office on Sept. 5 and laid off 70 people. 87% Upvoted. Salaries posted anonymously by Baker Hughes employees. report. Great training, facilities, first rate equipment and repair, most managers were amicable ; willing to listen to your questions or concerns. 109. The entire oil and gas industry has come under enormous pressure as social distancing in response to the Covid-19 pandemic slashes demand for transportation fuels. Baker Hughes Layoffs. Baker Hughes is also reducing capital expenditures by 20%. Baker Hughes provides a variety of health & protection benefits to provide coverage for you and your family. A free inside look at company reviews and salaries posted anonymously by employees. Baker Hughes said most of the job cuts are expected to occur during the first quarter. US drillers add 5 oil rigs in week ending Dec. 4: Baker Hughes Argaam 06:14 5-Dec-20. Baker Hughes, in a conference call with financial analysts, said the job cuts were a response to a sharp drop in sales. The company notified the Oklahoma Department of Commerce using what is called a WARN or Worker Adjustment and Retraining Notification notice filed with the Office of Workforce Development. The layoffs represent about an 11 per cent cut to the 62,000-plus workers Baker Hughes says it employs worldwide. Select your resource from the vendor list. New comments cannot be posted and votes cannot be cast. Halliburton has … The announcement comes after Schlumberger Ltd. … best. level 1. Vendor Tools. At the same time, OPEC member states and other producing countries have ramped up production, driving up crude oil supply globally. Halliburton’s 2019 layoffs, compared to net increases in headcount at Baker Hughes and Schlumberger, make some amount of sense, Dittmar said. Baker Hughes Layoffs. 401(k) Plan Information. 1,585 Baker Hughes reviews. GE and Baker Hughes executives have promoted the new company as "fullstream," meaning it provides upstream, midstream and downstream oil and … Baker Hughes announces more layoffs. We are taking proactive steps to mitigate the risk of exposure for our employees, … I was guessing I had more time than that. April 21, 2015, 2:41 PM. Baker Hughes spent much of 2019 extricating itself from General Electric Co. (NYSE: GE), which had been Baker Hughes' parent company since a merger with GE’s oil and gas division in 2017. Baker Hughes spokeswoman Melanie Kania said in a prepared statement, “These efforts will allow us to lessen the need for additional workforce reductions while remaining focused on serving customers and maintaining safe, compliant operations.” It's unclear how the pay cuts will impact the local Baker Hughes workforce. My condolences and prayers to those affected. 'We are facing unprecedented market conditions': Baker Hughes in Norway layoffs Baker Hughes Norway is closing down its department for coiled tubing, affecting 40 to 50 employees in Stavanger Lots of work with rotating g shift work 14/7, strict location safety compliance and first rate facility. The company estimates the layoffs will cost as much as $185 million in severance expenses. The 4,000 layoffs represent 6% of AmEx’s total workforce of roughly 63,000. Baker Hughes, an oil and gas services company, is closing its Houma plant and laying off 60 workers. Baker Hughes' TPS segment continued the momentum in its offshore production business in the quarter, securing six contracts to supply turbomachinery equipment for three floating production, storage and offloading (FPSO) units offshore Brazil. A free inside look at Baker Hughes salary trends based on 182 salaries wages for 137 jobs at Baker Hughes. Baker Hughes ist eine der führenden Erdöl-Service-Gesellschaften der Welt.Die Gesellschaft entstand 1987 aus einer Fusion von Baker International Corporation und der Hughes Tool Company.Der Hauptsitz der Gesellschaft ist in Houston/Texas ().Größere Niederlassungen befinden sich in Aberdeen (), Singapur, Dubai (), Celle (Deutschland) und Lafayette (). While that's a … Baker Hughes posted pre-tax losses of £12.9 billion for the quarter, down from a profit of £111.5 million a year ago, while revenues dipped 3% year-on-year to £4.4bn. Baker Hughes attributed the layoffs to the combined effects of the coronavirus pandemic and the crash of crude oil prices, which have cut demand for the company's services. Baker Hughes has activated global and regional crisis management teams in response to COVID-19 to monitor and respond to the situation. 2News Works For You KJRH - 2 News Works for You - brings you the latest trusted news and information for Tulsa, Green Country and Northeast Oklahoma. Baker Hughes US Rig Count Hits 323 Rigzone 06:13 5-Dec-20. Posted by 4 years ago. The company sent a WARN, or Worker Adjustment and Retraining Notification Act, letter to Farmington Mayor Tommy Roberts and to the state Department of Workforce Solutions to alert them to the layoffs. It looks as if another round of layoffs are taking place at Baker Hughes. Select. UnitedHealthcare CVS/caremark 1095-C Forms. Retirement. 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