Thread regarding Baker Hughes Inc. layoffs

Goodbye Baker

BJS would have survived but overbloated Baker is in trouble guys. Jobs deffo to go again. Years of low work coming. Time to get out...

Lawyers reviewing the potential deal for the Justice Department are concerned there will be less competition in the oilfield services industry if the acquisition goes through.

Officials are unconvinced that Halliburton's plan to sell some assets to other companies would restore significant competition to the industry, Bloomberg said.

No final decision has been made, but Bloomberg noted that the DOJ's antitrust division is in the position to carry out a legal challenge if it decides to try and stop the deal. The two companies are hoping to close the transaction by this December.

Additionally, Baker Hughes reported its 2015 second quarter earnings results on Tuesday, It posted a net loss and a decline in revenue, while forecasting that it will likely struggle with headwinds from falling oil prices for the rest of the year, The Wall Street Journal reported.

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| 751 views | | 19 replies (last August 27, 2015) | Reply
Post ID: @OP+D65fOZi

19 replies (most recent on top)

Pressure pumping is gone , and good riddance ! If not for PP Baker would still be standing strong !

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Post ID: @5mxW+D65fOZi

shut up

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Post ID: @540t+D65fOZi

@ Neo: Instead of creating riddles, think the family might be more appreciative of you looking for a new job rather than pondering here?

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Post ID: @4YL3+D65fOZi

Amen Anonymous140522!

Praise the lord!

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Post ID: @3Dcz+D65fOZi

Let's bring Ronnie Coleman back. He will straighten all this out.

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Post ID: @12K0+D65fOZi

Really PP killed BHI the truth is BHI can not manage nor run PP. When BHI bought BJS the people that could run PP either quit or got ran off by BHI so how many times has BHI tried to have PP but has failed to run and operate PP the way it should be. BHI can not micromanage PP and inspect it to run and operate like it should. BHI is its own worst enemy. Should have left BJS alone and by the way BHI really is not like that much where I come from. PP lazy I'm sure you have not been on a PP site while fracing asshole!

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Post ID: @109b+D65fOZi

Well played

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Post ID: @11Of+D65fOZi

Agreed......... to conceive all inefficiencies. The unexamined life is futile to lead. Productively displacing all that's of need, while modeling enterprises, chalked full of greed. The goats have escaped, scapegoats indeed. Lets find a new comeback, mr.agreed.

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Post ID: @10DG+D65fOZi

Yes, let's find a scapegoat and displace our inefficiencies on them...........This is a good model for a productive enterprise.......

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Post ID: @1EQR+D65fOZi

Thank you for those words. I will continue to respect my leadership even though respecting their character has proven to be difficult throughout the years. I count myself very fortunate to have income for my family. I visit these sites because I fear for my job, as I'm not in "the boys club" of the company. I've seem some of the best co-workers let go because they weren't in the popular crowd. Hopefully this market correction will correct other systematic flaws within our organizations, but now I'm wishfuly thinking. mine as well be asking for peace on earth....God knows good will left HAL years ago.

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Post ID: @1OIu+D65fOZi

Neo, hang in there man. If you are drawing a pay check at this point, don't walk away from it. Take all you can. In the meantime, prepare for and start your search for a different job. There's a lot of people out there now trying to do just that without an incoming salary. And remember, respect your management.

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Post ID: @jfF+D65fOZi

Having the best PP president and being the most respected in the business should stop the layoffs.... NOT!!

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Post ID: @Czh+D65fOZi

Yup i am sure you know best. BJS did nothing but grow after Baker spun them off in 1990s and then shrunck again once baker bought them back. Hmmmm

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Post ID: @n6R+D65fOZi

Whatever .... I don't think BJS was ever profitable just bunch of smoke and mirrors . If the whse manager was replaced it was probably needed . The pressure pumping president is one of the best in the business and it shows ! Baker pressure pumping is very respected in the industry . It is the BJS people who did not work just a bunch of lazy entitled people .

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Post ID: @UIX+D65fOZi

Forever Baker... Here is some info for 'ya. When Baker took over officially in 2012, in the Tomball whse, they replaced the manager who had 30 years experience with one of their office people from Rankin rd. Then $7/hr temps were brought in to do a wall to wall inventory. Most of them spent their time playing on their phones instead of counting. They had no idea of what they were counting. Their counts were logged and NO audits were done. The inventory average went from 98% down to 71%. When the lazy, uneducated full-time employees resumed counts, it shot back up to the 90's. Baker has installed 2 different versions of inventory management systems, which had to be learned and applied. Since 2012 there have been 4 different whse managers. Inventory average is currently 99.2%. This is just one piece of a much larger puzzle. Most of the experienced Pressure Pumping people left or were replaced with Baker people, who had to learn things on their own. It's funny that nobody was complaining last year when oil was $80. Baker bought BJS so Hal couldn't take them over, which they are doing anyway. Irony can be pretty ironic, can't it?

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Post ID: @siy+D65fOZi

This will go down as the worst M oil tanks, markets nose dive! If it goes though, Lazar is an idiot for over paying! If it doesn't, he's the incompetent CEO that embarrassed his precious shareholders, by giving into his "game of war" mentality. I work in the red slave box & am thinking about leaving. The industry is tough enough, but with HAL...if your not in a non revenue generating role, your treated like filth & expected to say thank you when spat upon.

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Post ID: @7N0+D65fOZi

You guys are morons. Bakers integration of BJS is what killed BHI. 3

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Post ID: @K8K+D65fOZi

BJS was a failure and is the reason Baker is having to sell . My friends that moved to Tomball have told me BJS people have no idea what they are doing and are lazy ! Baker is not bloated ! If Baker had not bought BJS they would be bankrupt right now.

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Post ID: @X0u+D65fOZi

I agree ... Looks terminal. Crappy pressure pumping will kill us if the deal goes south. Hal will finnish them of anyway. Its over.

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Post ID: @8P4+D65fOZi

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