Plummeting Oil Prices Force Tenaris to Reduce U.S. Workforce
03/23/2020 - Pipe and tube manufacturer Tenaris is laying off more than 900 people at its U.S. facilities as the sudden decline in oil prices have ground the energy tubular market to a halt.
“These are extraordinary times for our sector that require us to implement difficult, short-term measures to temporarily lean our operations,” said Luca Zanotti, president of Tenaris’ U.S. operations.
In Pennsylvania, the company plans to idle its plants in Koppel and Ambridge by 31 March. Its threading plant in Brookfield, Ohio, is to close by 17 April.
In addition, the company will reduce the headcount at its Hickman, Ark., welded pipe plant and its threading plant in Baytown, Texas.
