Baker Hughes to lay off 7,000 workers No description found
HOUSTON – KPRC Local 2 has confirmed that Baker Hughes will lay off 7,000 workers. That is about 11 percent of its workforce.
Baker Hughes is just the latest company in the oil industry to make job cuts as the price of crude drops dramatically.
Baker Hughes said the layoffs are company wide.
The announcement came as the company reported a record-breaking 4th quarter for 2014.
Other companies that have announced job cuts include Halliburton and Schlumberger. Swift Energy, meanwhile, said it is cutting its capital budget by 70-75 percent this year. It has not said anything about layoffs.
Copyright 2015 by Click2Houston.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Woman possibly squatting fatally shot after fight with security guard at apartment complex ▶ 0:45
Woman possibly squatting fatally shot after fight with security guard at apartment complex
The Woodlands, Montgomery County expand Flock camera network to improve public safety ▶ 0:37
The Woodlands, Montgomery County expand Flock camera network to improve public safety
Downtown Tomball businesses brace for eight-hour power outage during critical holiday rush ▶ 0:50
Downtown Tomball businesses brace for eight-hour power outage during critical holiday rush
Seized Venezuelan tanker may be heading to Galveston ▶ 0:51
Seized Venezuelan tanker may be heading to Galveston
Top headlines Dec. 12 ▶ 1:56
Top headlines Dec. 12
Geminid meteor shower peaks this weekend ▶ 1:05
Geminid meteor shower peaks this weekend
Conroe judge arrested for DWI, arrested three times before ▶ 1:10
Conroe judge arrested for DWI, arrested three times before
Friday is expected to be FOGGY in Houston ▶ 0:34
Friday is expected to be FOGGY in Houston
Humble City Council having closed-door meeting with Police Chief tonight ▶ 1:27
Humble City Council having closed-door meeting with Police Chief tonight
Acres Homes has $44K missing from budget as TSU investigation continues ▶ 0:52
Acres Homes has $44K missing from budget as TSU investigation continues
AirBnb homes expected to make money in Houston as city hosts 2026 FIFA World Cup ▶ 0:42
AirBnb homes expected to make money in Houston as city hosts 2026 FIFA World Cup
Warming winters aren’t a theory — they’re a fact, and Houston’s feeling it. ▶ 0:57
Warming winters aren’t a theory — they’re a fact, and Houston’s feeling it.
Behind the scenes: Battleship Texas restoration ▶ 1:14
Behind the scenes: Battleship Texas restoration
Police searching for woman caught stealing from multiple doctor’s offices in Houston ▶ 1:29
Police searching for woman caught stealing from multiple doctor’s offices in Houston
Houston Residents Fear Illegal Dumping Will Worsen After Federal Monitoring Ends ▶ 0:44
Houston Residents Fear Illegal Dumping Will Worsen After Federal Monitoring Ends
Top stories for Dec. 11 ▶ 1:47
Top stories for Dec. 11
Classmates describe warning signs of teen accused of plotting mass shooting at Pasadena Memorial HS ▶ 1:14
Classmates describe warning signs of teen accused of plotting mass shooting at Pasadena Memorial HS
Late FBI Houston agent’s work leads global child sextortion suspect to face U.S. charges ▶ 1:57
Late FBI Houston agent’s work leads global child sextortion suspect to face U.S. charges
Meteorologist vs. Social Media-ologist ▶ 1:52
Meteorologist vs. Social Media-ologist
KPRC 2 Toy Drive: Here’s how you can help bring joy to children in need this holiday season ▶ 1:00
KPRC 2 Toy Drive: Here’s how you can help bring joy to children in need this holiday season
Harris County DA asks Texas Court of Criminal Appeals to block hearing in A.J. Armstrong case ▶ 0:34
Harris County DA asks Texas Court of Criminal Appeals to block hearing in A.J. Armstrong case
Police chase during rush hour on Houston's busy freeway caught on camera ▶ 0:18
Police chase during rush hour on Houston's busy freeway caught on camera
Two Pasadena Memorial HS students suspected of planning ‘mass shooting’ at school ▶ 1:33
Two Pasadena Memorial HS students suspected of planning ‘mass shooting’ at school
Texas Lt. Governor pitches idea to lower property taxes: What does it mean? ▶ 1:51
Texas Lt. Governor pitches idea to lower property taxes: What does it mean?
Accused Takeoff shooter gets new court date ▶ 0:51
Accused Takeoff shooter gets new court date
Previous photo Next photo