At Baker Hughes, our people are central contributors to our purpose of taking energy forward. We understand that innovative minds, engaged employees, and diverse perspectives are needed to meet the world’s pressing energy challenges.
With approximately 55,000 employees and operations around the world, we are able to harness experiences, networks, and unique perspectives. That global reach also makes us agile, so when the health and economic challenges of the COVID-19 pandemic spread across the world, our crisis management teams were able to respond quickly. During the year, economic realities required us to restructure our organization and reduce our workforce. While necessary, we made every effort to support our people with severance and outplacement assistance.
We firmly believe that no matter what external circumstances we might face, we must continue to invest in the education and development of our people to succeed as an energy technology company. As such, we maintained transparency and supported our employees through this tumultuous time, with regular updates from our leadership about the state of the markets and their impacts on our business.
Mental health and emotional well-being was also an important focus for our people and our company. We hosted virtual wellness events and promoted our Employee Assistance Program and Employee Resource Group communities as means of emotional support.
We recognize that the energy transition is a critical global priority for the environment, but it is not without its challenges. Low-income, underprivileged communities as well as racial and ethnic minority groups may be disproportionately affected by the economic shifts associated with the energy transition. It is important to ensure that we leave no one behind. There is no path to a new energy future that does not include diversity, equity, and inclusion (DEI). It will require conscious action and close collaboration among the private sector, the public, and stakeholder groups. At Baker Hughes, we strongly believe that our diverse points of view will spark the innovation and creativity we need as we navigate through the energy transition.
