blueAgent:



How is Nigeria different? was the merger b/w Baker hughes Nigeria and Haliburton Nigeria that they will spend the 3billion dollars here in Nigeria?

Your are quoting out of context. That is in response to his internet quotation of Baker Hughes Global Revenue. He didn't take it into consideration the merger pay which BHI has used to buy back shares and offset loans

O0XYGEN:
Stupidity is part and parcel of every nigerians indeed.
Your people run Ghana.?hahaha
Are you that stupid?
With armed robbery,scamming,prostitutions or what.
Even if u had said u guys run OUR PRISONS i wouldve agreed because thats where most of u guys live.
Majority of u idiots are hawking dog chains,phone covers,cds etc on wooden trucks.
Your own country is bn run by the chinese and lebanese so keep on making a fool out of yourself.
Stupid bokoharam terrorism.
Seems the only country u idiots knw is Ghana.

Was this a response or a rant?

InvertedHammer:

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You know what you are talking about? If you got it figured out, why are you people picketing and protesting? It is called denial. Salaries and benefits are decided locally but MUST be signed off by the headquarters. If someone in New York gets paid $10k/month, do you expect them to pay same amount to someone in Nigeria? The benefits are decided locally to cut costs. That's all.

The reasons you enumerated for the protests are based on fantasy. The company pays you what they think you are worth. Why do you think the people that do the heavy lifting are the ones that get paid the least?

The funny thing is that you folks chose the wrong time to protest. Some of you need to be laid off if not for anything else for being stu.pid. Ranting on nairaland will not solve the problem. What does the Labour law say? Why is the law being abused? What are the repercussions? What is the solution? These are what you people should have analyzed before embarking on senseless protest. If BH puts out a memo that "no work no pay", all of you will quietly walk back into the so-called slave ship.

If I were you, I will find way to tap into the oil industry without being an employee. Otherwise, your fate will be same in many years to come. Don't forget that you are an employee, you are just a number. You are very expendable!
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I will still try to explain for the benefit of people reading.

We are comparing our salaries and benefits to people in Congo, Ghana, Equatorial Guinea. These people are being serviced by Nigerian made money. These countries are also being run mainly by our Naija ppl. But their government policies are stronger and BHI will not date mess up there. But they can mess up in Naija and get away with it because of course we love bribery. And that is what has been happening. Some Nigerian ppl in leadership positions have been bribing the people who should stop this rubbish. Bribed and ended the first union.


As for no work no pay directives, go to BHI yourself and find out, they have already done that last week. The union locked up the port harcourt offices for one whole week. Nobody can enter or go out. The company had to retract the no work no pay email threats they sent out

The people who work here have suffered for over 12 years and it's high time the music changed.

InvertedHammer:

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You still don't get it. Do you?

Baker Hughes is a corporation with subsidiaries scattered all over oil producing nations. Their annual financial statement is for the whole. Baker Hughes Nigeria may be the only profitable one since last year but that will be used to offset the losses in others. Layoffs will not spare the workers in Nigeria even though they lay the golden eggs. The salary and benefits structure are signed off by headquarters. Workers in Nigeria may get annual bonus, if necessary but in dire economic situation like this, Bakers will not pay out. The money that you mentioned stranded in Nigeria banks is being prepared to be wired/repatriated back to the bosses in Texas. Bakers Hughes Nigeria will only get part of the fund for their operating costs.

There are many ways of making money in oil. Sorry to tell you but the enginners and workers in the field are getting peanuts and that's why they are where they are today. An average oil related engineer that makes $3000 equivalent in a month in Nigeria believes that he is banking.

You may work for BHN but you don't seem to know or understand anything about the corporation other than doing your job and getting paid at the end of every month.

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The money in Nigerian banks are not supposed to be wired back to the foreign bosses. That is Nigerian law. The foreign bosses have taken their 60 percent. The remaining money should be used to take care of the Nigerian part. Only the Nigerian leadership can decide how it's spent. Unfortunately they will rather declare it as profit and smuggle it abroad so that they can get promoted but it's illegal

InvertedHammer:

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You still don't get it. Do you?

Baker Hughes is a corporation with subsidiaries scattered all over oil producing nations. Their annual financial statement is for the whole. Baker Hughes Nigeria may be the only profitable one since last year but that will be used to offset the losses in others. Layoffs will not spare the workers in Nigeria even though they lay the golden eggs. The salary and benefits structure are signed off by headquarters. Workers in Nigeria may get annual bonus, if necessary but in dire economic situation like this, Bakers will not pay out. The money that you mentioned stranded in Nigeria banks is being prepared to be wired/repatriated back to the bosses in Texas. Bakers Hughes Nigeria will only get part of the fund for their operating costs.

There are many ways of making money in oil. Sorry to tell you but the enginners and workers in the field are getting peanuts and that's why they are where they are today. An average oil related engineer that makes $3000 equivalent in a month in Nigeria believes that he is banking.

You may work for BHN but you don't seem to know or understand anything about the corporation other than doing your job and getting paid at the end of every month.

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You are the one not getting it at all. Countries that are running at losses are paid much better than Nigeria who is providing the money. And no, the salaries and bonuses are not signed off at the head quarters . They are decided locally . Even if it's it an international corporation, the Nigerian leadership has a lot control on how the staff are treated and not the headquarters. You are trying to sound smart but unfortunately you keep going off point. I will leave you at this as you have no single idea of what you are taking about.

InvertedHammer:

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Baker Hughes 2016 Q1

Net sales. $2.67b
Gross profit. $12m
Pretax income -614m
Net income. -981m
Income before nonrecurring items. $-199m
Income from recurring items. $-782m
Income before Depreciation
(Depletion Amortization) $-559m
Earnings per share diluted net. $-2.22


Do I need to post all the previous results in the last two years? Oil companies and oil servicing companies have been adversely affected by the fall in oil price. Believe what you want even when data and facts staring you in the face point to the contrary.
Baker Hughes Nigeria is still a subsidiary of the Baker Hughes domiciled in Texas. Everything is treated as a whole.

I am only interested in their rig count data every friday.
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Bros you are quoting Internet, I am talking for raw undoctored knowledge. Leave matter for Mattaias. All other Baker Hughes offices are making a loss. Nigeria is not making a loss. The money baker hughes has in Nigerian banks that they are trying to smuggle out has been stockpiling for years since the oil wind fall. Moreover Baker hughes just collected 3.5 billion dollars from Halliburton as pay off for failed merger. Other baker hughes countries are running at a loss but not Nigeria. Nigeria is their best country in the world.

InvertedHammer:
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Baker Hughes has been bleeding for years.

Oil price is retracing and I expect more pain and lay-offs ahead.

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Baker Hughes Nigeria is not bleeding. It's one of the most if not the most profitable Baker Hughes office in the world but the workers are paid the lowest of the lowest salary. This company has almost a billion dollars in Naija wey dem fit carry leave this country . They are looking for how to smuggle it out. Money that according to Naija law must be spent in Naija. Leave matter for mattaias abeg

Izontubo:
The truth is our fellow Nigerians who are the top are the ones behind this madness..ensuring that their fellow nigerians are enslaved in Nigeria. ..The nigerian baker Hughes staff should get a hold of the top management staff who are nigerians...I know what I am talking about...

You are right on point man

Facts about Baker Hughes Nigeria

1. This company had a union many years ago. This union ensured that staff were well payed and taken care of but this union was destroyed by Mr Tayo who was the MD and current global Vice President in Baker Hughes. He destroyed it by bribing the zunion officials. The union officials turned back and betrayed the staff and accepted the current wicked contract on their behalf. If you don't accept it, you are sacked. The company rewarded Tayo by promoting him and posting him abroad.


2. nigeria is one of the country that makes the highest profit margin for Baker Hughes yet her staff are paid the worst compared to all Baker hughes offices worldwide.

3. When their People are laid off in Congo and other african countries , Baker Hughes gives them the following; 9 months minimum salary, 3 Morgan salary per year worked and one year health insurance. The staff are the ones that gives the company notice that they want to be laid off Or the company will give them at least one month notice. In Nigeria, no notice is given . Instead bouncers and security men wil just appear I your office and bundle you out. Also they only pay them 2 weeks per year. Imagine working for 8 years and going home with 500thousand.


4. This company is not allowed to take out more than 60percent of her income according to Nigerian Law. The 40percenr should be invested I Nigerians But they keep smuggling this money out. Efcc take note