Baker Hughes Cuts 17% Of Workforce As Oil Slump Ripples Through Economy

Tuesday, April 21, 2015
By Paul Martin

by Tyler Durden
ZeroHedge.com
04/21/2015

Baker Hughes has increased the number of jobs it plans to cut from 7,000 to 10,500 and will close 140 facilities worldwide citing a need to “reduce the cost base and resize [the company’s] footprint” in the face of challenging market conditions. Meanwhile, JPM reminds Richard Fisher that “the only thing dropping in the Texas economy is the number of jobs.”

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