Baker Hughes Layoffs Job Cut: fires 1500 employees: Finance Trading Times

Baker Hughes Layoffs Job Cut: fires 1500 employees

The news is not good for the employees of Baker Hughes, the global oilfield service company with operations in over 90 countries. Now the situation is getting worse for the employees as the recession is taking a toll on all sectors and all of the sectors are feeling the heat. The latest additon to the list of organization which may go for layoffs is the Baker Hughes. It has declared that it will layoff some 1500 workers this year. Baker Hughes Logo

How many employees may be fired in the Baker Hughes layoffs?
The news is that around 1500 employees may be fired from their jobs at Baker Hughes.

What is the total no. of employees of Baker Hughes?
Total No. of employees of Baker Hughes is around 37500 as of now. The job cuts will be around 4% of the total employee workforce.

What will be the cost and savings by Baker Hughes layoffs?
No info about that.

When will the Baker Hughes layoffs happen?
As per the reports, the layoffs will be done in this year itself, i.e. 2009.

Which locations will be affected by the Baker Hughes layoffs ?
Around 33% of the job cuts will happen in the US and will they will include a variety of posts, including manufacturing and field operations jobs.

Any previous layoffs by the company?
Yes. The company had laid off around 1500 employees in the month of January, 2009. The bad newsdoesnt stop there, the company officials say that they may go for more cuts if need arises.

What is the primary reasons for Baker Hughes layoffs?
The job cuts are because of the deteriorating economy, low cost of oil, and natural gases and low demand from customers.

Any other news about Baker Hughes layoffs
As per CNN, Oil and natural gas companies have throttled back drilling activity in response to those lower prices. Firms like Chesapeake Energy Corp. and Devon Energy Corp. have let rigs fall idle to curb costs. The number of rigs drilling for oil and gas in the U.S. has dropped about 45% since hitting a peak in September, according to rig data from Baker Hughes.
Let's hope that alternative jobs are available to the affected employees of Baker Hughes Layoffs Job Cut
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