Baker Hughes Cutting 62 Jobs in Houston

Baker Hughes, the world’s third largest oilfield service company, is cutting 62 jobs by mid December. The affected jobs are mostly financial, the company says. These cuts are part of a worldwide reorganization according to spokesperson Gene Shiels. Baker Hughes is currently working on a merger with BJ Services, another Houston based company.

Baker Hughes employs nearly 40,000 people in 90 countries and had a net income of $2.635 billion in 2008.