Baker Hughes to cut another 1,500 jobs

March 16, 2009 11:20:48 AM PDT
Oilfield services provider Baker Hughes Inc. says it can't rule out another job reduction later this year after announcing last week it was cutting another 1,500 positions, bringing its total to 3,000 so far this year. [FIND A JOB: See listings for jobs around the Houston area]
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Baker Hughes' investor relations director Gary Flaharty said Monday the company will make additional adjustments as required.

Flaherty says the latest job cuts began last week and represent about 4 percent of the Houston-based company's global work force.

Tumbling crude prices, frozen credit markets and forecasts for meager energy consumption have forced energy producers to scale back spending. That means less work for companies like Baker Hughes, which assist producers with drilling, reservoir management and other services.

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