Recent interview with new CEO
Q: How about redundancies in the two companies? Everyone is always worried about layoffs. What does the merger mean for workers in Houston and worldwide?
A: We've always said this is a complementary transaction, and we feel good about the two portfolios coming together. That being said, there are cost synergies. And we've also been very clear in the target we've set ourselves by 2020, with the $1.2 billion. Predominantly, you look at rooftops. We're going to have a lot of empty spaces already. We're able to combine and bring those rooftops down. We're able to look at the supply chain where we're buying from the same suppliers, we're able to rationalize. Is there people impact? Yes. As you look at some of the other areas, from an enabling perspective, as you look at trying to drive productivity. But our focus is really on that combination being complementary.