The company is in a mess and now owes Baker a few billion for screwing up this deal. Money that could have been used to save jobs
13 replies (most recent on top)
when BHI falls through, Someone will buy them for much cheaper than what HAL attempted
What?? You think that Halliburton would "save" jobs if they don't have to pay 3.5 Billion in break-up fees to BHI? No company, profitable or unprofitable, pays to keep any employees on the payroll if they are not needed due to lack of work. Well, maybe if they are related, otherwise no. What planet are you on? Companies always say they want to save jobs and I believe they do. But they need to have the work to support those jobs.
Why Knave and team is still there? 3.5b should be taken from them along with the public apology for the misery caused to thousands of families in their mishandling of the merger. Why did they think they could get away with obvious anti trust issues? Such a pity that so many of decent folks had to suffer because of the arrogance of these idiots.
I used to work for HAL 10 years a go and thank goodness I left such $hitty company. Management in Procurement were pathetic and back-stabbers. Low life individuals ran off very good people. I say screw them, let them fail miserably.
To the post below.
It means Dave made a very bad play to buy baker. Look for Dave and most of the top to be voted out. But don't worry. They will get a good package.lol.
What the hell does all this mean?
But just think Baker Hughes is going down the tubes any way.
This should have never happened in the first place but the issue with Halliburton is that they do not lead in the future technology saying little development in the r & d market this being why they wanted to go for baker at the price and getting there technology from baker as for 1 stage there drilling tools are way ahead of Halliburton - when this dealing was going on Halliburton had to sell off 10 billion as assets and I am sure that there would not be to much in there as out dated in the market.
Halliburton need to think not just about drilling for oil but after the life time of a field this being decommissioning which is going to be massive world wide they should have thought about some thing like this going forward. And as all say on this site money has been spent wrong with bad decisions and it is costing to many people there jobs world wide. so it will be interesting to see at the next share holders meeting what the changes shall be there needs major change at board level
They could have used the money to keep employees on the payroll until things pick up again rather than having to pay Baker billions because of a failed acquisition attempt.
Having extra $$$ would not of saved jobs. Do you think they are actually going to keep you onboard if there is no demand for your work?
Wow. You are correct. $3.5B is quite a loss. Imagine the jobs lost and that could've been saved. Do the math. This is a sick greedy company.
Indeed... No one takes HAL seriously now.
YES YES YES