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American City Business Journals

Baker Hughes restructuring business to drive profitability, names management team

Houston-based Baker Hughes Co. (Nasdaq: BKR) is simplify operations in an effort to enhance profitability. The restructuring of its four product companies to focus on two business segments could deliver at least $150 million in cost savings, the oil field services giant announced Sept. 6. “We have continuously looked to ensure Baker Hughes can operate in any environment and play a clear role in helping to address the energy trilemma — balancing energy security, sustainability, and affordability,” Baker Hughes Chairman and CEO Lorenzo Simonelli said in a news release.

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