How bad is it? I’ve heard different numbers for OFS staff reduction. One person said 50%, another said 15%.
11 replies (most recent on top)
Your an id–t if you think Business Transformation generates value add or revenue.
you can blame a lot of the GE fat that was brought to BH. GE is a terrible company, lots of lies to investors. good luck.
How about getting rid of all the “chiefs” and not the actual workers??? How many layers of “management” do we really need? Think back to Baker Hughes 2013/2014 when leadership was first to go. They make the big $$$
Maria made $8,000,000 and Lorenzo made $16,000,000. I’m sure all of the PL leaders make $1,000,000+ Lot of jobs could be saved reducing their pay. Why does OFS have to many executives? HR alone has to have at least 25. It’s ridiculous cut them!
Piggybacking the previous comment. International markets are probably being evaluated now since the cuts are going into effect. Who the hell knows. But 1/3rd of q2 is done. So probably next round maybe June 1?
Dragon lady pretty much is cutting all North American businesses that haven’t had much margin and will be greatly affected. Fluids, plugs, and now rod lift. Done. Probably not globally... well Lufkin they at least sold.
It was the VP of OFS HR. He said roughly 15 percent RIF but in normal hr fashion dodged the second half of the question. The second half was how much have we reduced so far.
Lay off Maria and Business Transformation and you will have reached the cost reduction goal.
If you work in Business Transformation it is 15%. For the rest it is 50%. Business Transformation is generating the most value add and revenue in OFS.
15% is what Maria said on a call. Some misheard as 50%.
How about 100%. Sold OFS to an investment firm. Medusa touch