Baker Hughes laying off hundreds in Houston as part of global restructuring of oil field services division

Baker Hughes is laying off “several hundred” employees in the Houston area as part of a restructuring of its oil field services and equipment segment, a spokesman for the company confirmed Friday. The Houston oil field services and energy technology giant declined to be more specific about how many people would be laid off but said it was part of an ongoing global restructuring of its oil field services and equipment segment that began last month. The company employs roughly 58,000 people globally, up from roughly 55,000 at the same time last year. Nancy Buese, the company’s chief financial officer, said during an earnings call last month that the company was restructuring the division to “remove duplication and drive more cost efficiency across the business.” Severance costs related to the restructuring were included in the company’s fourth quarter earnings, she said, though they were not detailed separately.