Baker Hughes, one of the world’s largest oilfield services provider is looking to cut its workforce in Norway amid challenging market conditions.
Following several reports from Norway that the company will offer severance packages to its Norwegian workforce, Offshore Energy Today has managed to obtain the confirmation from the company itself.
This is what the Baker Hughes spokesperson said in an emailed statement:
“The offshore oil and gas industry, including Baker Hughes, continues to face difficult market conditions globally and in Norway. To meet the challenges of today while positioning it for growth in the future, the company is adjusting its business to improve efficiencies and reduce its cost structure.
“Baker Hughes has implemented a range of actions to reduce costs, including a voluntary severance program in which employees can apply for an enhanced severance package. The company believes this is the most proactive and fair mechanism to optimize its workforce in these market conditions. The company remains committed to delivering for customers, as well as protecting the health and safety of its employees, customers and the communities in which it operates.”
The spokesperson said the actions outlined above were taken in the ordinary course of business and are unrelated to the proposed combination of Baker Hughes with GE’s Oil and Gas business.
“Baker Hughes and GE Oil and Gas remain two separate companies and will continue to operate independently until the transaction closes, which is expected to happen in mid-2017,” the spokesperson ended.