This might be good ideas from Baker Hughes to keep oil and gas people in the business during downturn. Read the full details below.
Houston-based Baker Hughes is cutting employee pay for many U.S. workers by 5 percent through a new furlough program to reduce costs and lessen the need for additional job reductions.
The pay cuts, which Baker Hughes described as temporary, will stretch from the pay period beginning Sept. 11 through the final paycheck of the year. In exchange for the pay cut, employees will get holidays on Oct. 10, Nov. 23, Dec. 23 and Dec. 28, according to an internal memo acquired by the Houston Chronicle.
The memo said the furlough program is designed to “help Baker Hughes reduce the need for additional layoffs and to achieve the cost savings needed to enable profitable growth.” Among those excluded from the pay cuts are some top executives and other global operations employees in the United States; many employees in chemicals operations; some human resources workers; many sales people; and corporate security and information technology workers, among others. Most leadership is included in the furlough, according to the memo.
Baker Hughes spokeswoman Melanie Kania said in a prepared statement, “These efforts will allow us to lessen the need for additional workforce reductions while remaining focused on serving customers and maintaining safe, compliant operations.”
Houston-based Baker Hughes Inc. plans to begin a temporary furlough program for some employees.
“In response to challenging industry conditions, Baker Hughes has implemented a temporary 5 percent pay reduction for certain U.S. employees during the last 14 weeks of 2016, while providing those employees four additional paid holidays,” according to a statement provided by a Baker Hughes spokeswoman. “These efforts will allow us to lessen the need for additional workforce reductions while remaining focused on serving customers and maintaining safe, compliant operations.”
Do you dream of an employment in the oil and gas sector but you are clueless as to how to accomplish it?
You need not stress anymore. This article is just what you need to guide you to attaining that goal.
Making the decision of working in the oil and gas industry is a great one, the industry is very lucrative. However, you may face the challenge of being inexperienced and being clueless about how and where to begin from. Actually, the fact that you don’t have any initial experience is not the issue, you still have the opportunity of breaking into the industry if you plan well. A good plan, good networking and initiative will help you achieve the goal easily.
Oil and Gas Employees in Aberdeen have been placed on gardening leave by oil giant Schlumberger for up to a year on 20% of their annual salary, however during this period they are not allowed to work for any other employer.
Oil giant Schlumberger have introduced an incentivised leave of absence scheme in a desperate attempt to retain skilled staff amid the global downturn within the oil and gas industry.
Members who choose to opt into the scheme are required to take up to a one year break from employment on a fraction of their regular annual pay whilst not being allowed to work for anyone else in the same period.
Obviously this isn’t the best time to graduate in Geophysics, Geology or Engineering if you have a plan to make a career in oil & gas at this time 2016. However, it isn’t the first time that such precipitous fall in the oil prices has taken place, and many people in the industry today graduated when the prices of oil previously hit low levels, quite similar to the present situation. So what are the things that new graduates should do in order to position themselves for the time when oil prices finally begins rising again and “recovery” starts in the oil industry.