Baker Hughes layoffs, on the record
Every job cut, severance charge and restructuring Baker Hughes reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 58,000 to approximately 56,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 58,000 | December 31, 2023 |
| 10-K for 2024 | approximately 57,000 | December 31, 2024 |
| 10-K for 2025 | approximately 56,000 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryCompany restructured its corporate organization and reorganized from four operating segments into two, with employee termination expenses under the 2022 Plan continuing into 2023.
Word for word“In the second half of 2022, we announced a plan to undertake certain corporate realignments and restructure our four operating segments to focus on two operating segments, OFSE and IET, in order to simplify and streamline our organizational structure, and create better flexibility and economies of scale across the two operating segments.” 10-K for 2023
Our summaryCompany recorded restructuring and impairment charges, mainly employee termination expenses, under the 2022 Plan and a new 2023 Plan covering exit activities at specific locations.
Word for word“In 2023, we recorded restructuring and impairment charges of $ 313 million.” 10-K for 2023
Our summaryCompany incurred additional costs related to a planned workforce reduction, primarily in OFSE.
Word for word“In the fourth quarter of 2023, we incurred additional costs related to a planned workforce reduction, primarily in OFSE.” 10-K for 2023
Our summaryCompany paid cash for employee severance tied to its restructuring activities.
Word for word“Included in our 2023 cash flows from operating activities are payments of $142 million made primarily for employee severance as a result of our restructuring activities.” 10-K for 2023
Our summaryCompany initiated a streamlining of the OFSE operating model that also reduces its facility footprint, resulting in employee termination expenses; restructuring and associated impairment charges in 2024 were $260 million.
Word for word“The Company has initiated a streamlining of the OFSE operating model which will also reduce its facility footprint resulting in employee termination expenses and associated impairment of PP&E.” 10-K for 2024
Our summaryCompany recorded employee-related termination expenses as part of restructuring charges in 2024.
Word for word“Employee-related termination expenses 153 270 121 Asset relocation costs — 5 3 Contract termination fees 2 1 1 Other incremental costs 34 39 13 Total $ 266 $ 313 $ 196 OTHER CHARGES Other charges included in "Restructuring, impairment and other" in the consolidated statements of income (loss) were $ 41 million, $ 10 million, and $ 509 million for the years ended December 31, 2024, 2023 and 2022, respectively.” 10-K for 2024
Our summaryCompany paid cash for employee severance tied to its restructuring activities.
Word for word“Included in the cash flows from operating activities in 2024 are payments of $217 million made primarily for employee severance as a result of our restructuring activities.” 10-K for 2024
Our summaryCompany recorded restructuring, impairment and other charges, including employee termination costs under the 2023 Plan, to align the business with its market outlook and rationalize manufacturing footprint.
Word for word“In 2023, the Company recorded restructuring and associated impairment charges of $ 313 million .” 10-K for 2024
Our summaryCompany recorded restructuring charges primarily for employee terminations to reorganize into two segments under its 2022 corporate restructuring plan, and charges tied to discontinuing Russia operations.
Word for word“The charges related to the Company's 2022 Plan were primarily for employee termination expenses to facilitate the reorganization of the Company into two segments and corporate restructuring.” 10-K for 2024
Our summaryRecorded restructuring charges in 2025, mainly for employee termination expenses and footprint consolidation.
Word for word“Restructuring charges were $215 million in 2025, primarily related to employee termination expenses and footprint consolidation.” 10-K for 2025
Our summaryRecorded restructuring charges in 2024, mainly to streamline the OFSE operating model.
Word for word“Restructuring charges were $260 million in 2024, primarily related to streamlining of the OFSE operating model.” 10-K for 2025
Our summaryRecorded restructuring charges in 2023 to align the business with its market outlook.
Word for word“In 2023, restructuring charges were $313 million reflecting costs to align the business with the Company's market outlook.” 10-K for 2025
Our summaryPaid cash mainly for employee severance tied to restructuring activities in 2025, 2024 and 2023.
Word for word“Included in the cash flows from operating activities in 2025, 2024, and 2023 are payments of $182 million, $217 million, and $142 million, respectively, made primarily for employee severance as a result of our restructuring activities.” 10-K for 2025
| Fiscal year ended | Severance costs | Restructuring charges | Restructuring costs incurred |
|---|---|---|---|
| 2016-12-31 | — | $293 million | — |
| 2017-12-31 | — | $385 million | — |
| 2018-12-31 | — | $304 million | — |
| 2019-12-31 | $184 million | $314 million | — |
| 2020-12-31 | $134 million | $903 million | — |
| 2021-12-31 | $60 million | $138 million | — |
| 2022-12-31 | $23 million | $196 million | — |
| 2023-12-31 | — | $313 million | — |
| 2024-12-31 | — | $260 million | $6 million |
| 2025-12-31 | — | $215 million | — |
Baker Hughes filed 1 restructuring notice (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Baker Hughes’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-05. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.