Baker Hughes to restructure organization into two units

Reuters Images/Brendan McDermid

The company added it expects to deliver at least $150mln in cost savings

Ruhi Soni, Reuters News

September 6, 2022

PHOTO

Oilfield services firm Baker Hughes Co said on Tuesday it will simplify its organizational structure by reducing its business units to two from four, starting Oct. 1.

The company added it expects to deliver at least $150 million in cost savings.

The Houston, Texas-based firm said it will combine its Oilfield Services and Oilfield Equipment units to form Oilfield Services & Equipment. Maria Claudia Borras will be the Executive Vice President (EVP) of the unit.

It will also create an Industrial & Energy Technology unit by merging its Turbomachinery & Process Solutions and Digital Solutions businesses. Rod Christie will be the EVP of the unit.

(Reporting by Ruhi Soni in Bengaluru; Editing by Krishna Chandra Eluri)

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.