Contractors, pinched by downturn, discuss dilemma at OTC

Baker Hughes CEO Chad Deaton urged colleagues at the Offshore Technology Conference to examine how they respond to a slow oil and natural gas market and to avoid drastic moves such as layoffs if possible. Technip CEO Thierry Pilenko agreed and said the situation challenges oil-services firms to tighten operations and re-evaluate their supply chains to find places where they can cut costs.

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