Tenaris Trims 100 Jobs at Arkansas Mill; Blames Oil Downturn
01/18/2016 - Tube maker Tenaris is shedding approximately 100 jobs at its welded pipe mill in Blytheville, Ark., USA, due to the weak energy market, the company has announced.
In a statement, Tenaris pointed out that the price of oil is at a 12-year low and the rig count is down by more than 60 percent since prices began to fall.
“Compounding the situation are excess inventories, created in part by ongoing imports of unfairly traded OCTG,” the company said. It added that it is monitoring market conditions and will align its workforce and production levels as needed.
“Compounding the situation are excess inventories, created in part by ongoing imports of unfairly traded OCTG,” the company said. It added that it is monitoring market conditions and will align its workforce and production levels as needed.
