Thread regarding Baker Hughes layoffs

Oil Just Had Its Worst Run Since 2008 , companys too start redudancys again , thousands to go.

Oil Just Had Its Worst Run Since 2008

By Nick Cunningham - Jun 06, 2019, 6:00 PM CDT

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Oil has entered a bear market as fears of an economic downturn mount. The fundamentals look much tighter than the swoon might suggest, but the supply and demand picture is also beginning to look more negative.

The EIA report was exceptionally weak, showing a strong build in crude oil (+6.8 million barrels), gasoline (+3.2 million barrels) and distillates (+4.6 million barrels). The combined builds across multiple products surprised the market. Sometimes, these figures sort of offset each other. For instance, if refiners are running really hard, they tend to build up gasoline stocks, but they use up crude oil in the process, so crude inventories dip even as gasoline stocks rise. This time around there was none of that. Increases across the board led to a plunge in oil prices.

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| 2172 views | | 20 replies (last June 14, 2019) | Reply
Post ID: @OP+ZrnjIlF

20 replies (most recent on top)

Low skil low pay poor education sums it up

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Post ID: @7kak+ZrnjIlF

thick as mince that old school how can you go from 30% market share to around 1% now. unbelievable incompetence

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Post ID: @6vih+ZrnjIlF

hey how come Slb and Hal has all the work in North Sea and this lot have nothing? Buncha clown. Unbelievable. What a mess

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Post ID: @5vnp+ZrnjIlF

Aberdeen the worst management in baker worldwide by far. Low IQ poor education

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Post ID: @5jxi+ZrnjIlF

Aberdeen office a good example of putting people in management who shouldn’t be there. Most of them have been kicked out but the end result is the mess they left behind. Also Slb and Hal have all the market share. Good business case in how not to run an operation. The problem is bad management.

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Post ID: @5tei+ZrnjIlF

Bhge has done nothing but close offices and lose contracts .

In the last 3 years our staff has gone down to about 30% of 5 years ago.

We have no offshore staff left and lost about 1000 years of experience just in Aberdeen to be replaced with trainees and graduates who don't have a clue and only lose us more work.

Its embarrassing how big a joke this company is these days and even in our office we all laugh at it as nothing else left.

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Post ID: @5vxl+ZrnjIlF

old school lost most the big contracts in aberdeen before Ge took over. Thats why they were fired.

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Post ID: @4kin+ZrnjIlF

Funny old school was running 3 offices and about 80 x the work and people. now very little work or staff ???

How come weatherford, Schlumberger ect in Aberdeen are 5x the size and are busy and bhge can't keep a few in each department in work ?

Great job carried out by engineers and managers with zero experience and lots of bits of paper so they can tell you how clever they are...

Managed to run a great company into the ground and make it a laughing stock.

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Post ID: @4ojw+ZrnjIlF

Old school created one big mess in Aberdeen so had to be fired with no severance.

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Post ID: @4itz+ZrnjIlF

Ge consider old school Baker folks as several degrees below Ge intelligence and management talent levels

You don’t throw money away laying off no good unskilled personnel no matter how long they were in the company

That said the opportunity now is for the young graduate level Baker hand to learn from Ge people and build up their skills and capabilities

Go for it ! It’s the GE way !

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Post ID: @3xwy+ZrnjIlF

There no money to pay severance like before.

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Post ID: @3sak+ZrnjIlF

Its funny people in Aberdeen can't accept the industry is no more.

Companies can't get positions filled now and many jobs are still vacant 6 months on and it's not due to lack of options but all the ones who were paid off realise how bad it was and how much better they are now.

because why work offshore anymore away 3/4 of your life for a company that will pay you off in a second for not much more money than you can make being home every day or in some cases less.

Offshore is a terrible way of life when you were paid high wages now it's a joke.

Work 250 plus days a year away from your friends and family to live 100 days in a house you can't afford or a car that sits in your drive way and your oncall not being able to do anything.

I dont know 1 person who actually likes it and the few that do its only because they have zero home life.

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Post ID: @3aaa+ZrnjIlF

Cats out of the bag. Bad management ruined aberdeen ops. 😎

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Post ID: @3uxl+ZrnjIlF

Why so many downvotes on @ZrnjIlF-oon's comment? It's the solid truth, oil is done and you can see it already in terms of the trouble they have to bring in talent. No, not just "workers" either. I mean actually good raw talent. They just can't do it, because no one with a brain wants to work in oil anymore because the younger generations can see beyond just the next quarter and know that there just isnt' a stable future in this anymore. Hell, it's not like it pays well either. At least not where I'm from, I mean it's good pay but for a few bucks less I can work close to home, be in bed every night and actually have a life outside of work. It's ridiculous.

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Post ID: @2tfc+ZrnjIlF

Childish uneducated managers that office. Absolute joke no surprise stoneywood. went downhill and fired these clowns

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Post ID: @2wmj+ZrnjIlF

Stoneywood lost the most revenue in Aberdeen. managers didn’t know how to manage

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Post ID: @1ylf+ZrnjIlF

Aberdeen and bhge are the biggest joke going these days in oil.

Both past it 5 years ago, losing money and full of total dxxcs, why is anyone honestly living or working for either?

Ha ha ha sad sad people can't get anything better and too scared or far too much on negative equity to leave .

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Post ID: @1vzh+ZrnjIlF

companys too start redudancys again , thousands to go.

Although it’s pretty obvious because of the spelling, this part was not in original article, @ZrnjIlF added that.

In case someone is interested to read the full story, here it is:

https://finance.yahoo.com/news/oil-just-had-worst-run-230000418.html

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Post ID: @uqs+ZrnjIlF

Ha ha every month getting told the big times are coming back.

4 years on in Aberdeen is dead, oil price way below even break even value, 60% out of work, house prices down 40% , rent down 55% , hotels occupancy 44% , no work,

5 years from now and when the oil is still sitting at around 50.00 dollars , houses are all empty as everyone paid off from the never bankrupt bankrupt oil companies they will still be trying to convince the world the good times are coming back.

Boys accept the fact of wanting to work in the oil industry you will spend almost all your time away , paid less than you can make onshore and get told monthly your lucky to have a job and if you don't gobble the managers daily..... ha ha ha boom times back

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Post ID: @oon+ZrnjIlF

bunch of losers hanging on to a dying industry. It’s time to find another job

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Post ID: @zhz+ZrnjIlF

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