Apparently Q2 performance is strong. Q1 in comparison was just "solid". We learned that solid externally means bad internally. Wonder what strong means and why we keep reducing headcount if the performance is strong (at least this is the story they tell to the shareholders). Something doesn't gel here. Is Nancy cooking it? What's everyone perception of the dissonant external and internal narratives?
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It’s noteworthy to mention why certain entities are present in Saudi Arabia, particularly in the context of MCB and LS. There was a missed opportunity in Q2 to highlight the exemplary HSE culture and the commendable actions demonstrated by Baker Hughes. If reports surface and whistleblowers shed light on the events, it could pose a significant risk to Baker Hughes' operations within a specific segment in Saudi Arabia. The individual referred to as Yak-FK-Dan is contemplating how to divert attention from this issue with a confusing narrative. However, it's only a matter of time before the truth emerges. Good luck to everyone involved.
Cuts and stock increases beget big bonus for the overpaid me me me peeps.
EBITDA went up, slightly.
17% to 17.8%
15% to 15.9%
Considering the cuts and everything else that has happened, I can’t imagine they are overly happy.
Expect more headcount reductions and more spending cuts.