Baker Hughes to cut pay in effort to avoid more job cuts – Houston Business Journal

Houston-based Baker Hughes Inc. (NYSE: BHI) 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.”

Source: Baker Hughes to cut pay in effort to avoid more job cuts – Houston Business Journal

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