Baker Hughes to slash 7,000 jobs in qtr

摘要

Baker Hughes Inc. will lay of 7,000 employees, or about 11 percent of its work force, the company said Jan. 20, citing a steep decline in oil prices. The cuts are tied to recent declines in oil rig counts, chairman and chief executive officer Martin Craighead said during the company’s earnings conference call, noting a roughly 60-percent decline in the price of crude oil since June. “The recent declines seen in rig counts will clearly affect results in 2015,” he said.