First Schlumberger Fires 9,000; Now Baker Hughes Unleashes 7,000 More Layoffs

Tuesday, January 20, 2015
By Paul Martin

by Tyler Durden
ZeroHedge.com
01/20/2015

Another day, another unambiguously bad announcement from America’s bettered energy sector which are bolting down ahead of the crude storm, and firing thousands. Last week it was Schlumberger which announced it would fire 9000, today it is Baker Hughes which just warned it too will hand out about 7000 pink slips in the first quarter. And as a reminder, when it comes to comp: each Baker Hughes job is equivalent to about 10 waiter and bartender jobs, which have been the basis of this “recovery.” To wit: BAKER HUGHES SEES WORKFORCE REDUCTION OF 7,000 WORKERS

The Rest…HERE

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