TMK Ipsco Lays Off 115 Employees in Beaver County, Penn., USA
05/20/2015 - According to the Pittsburgh Business Times, TMK Ipsco has laid off more employees in Beaver County, Penn., USA.
This was more than the steelmaker originally expected, a spokesman for the company confirmed.
In February the Russian-owned company, which produces pipe for oil and gas drilling wells, said it anticipated temporarily laying off 10 percent of its 750 employees in the area. To date, 115 employees have been temporarily laid off, according to spokesman Roger Bentley.
Bentley said the temporary adjustments have been made in an attempt to match supply with demand amid low oil prices. He said the company's business is directly in proportion to the number of rigs on the ground. The U.S. rig count fell below 900 last week, marking the twenty-second straight week of declines, according to Houston-based oilfield services company Baker Hughes Inc.
Bentley said the company continues to believe the layoffs will be temporary, given the cyclical nature of the market. He said there are no plans to close the Beaver County plants in Ambridge and Koppel.
The company looks at adjusting production on a detailed weekly basis, according to Bentley. The layoffs have had no impact on the company's recent expansion, he said.
In February the company signed a 10-year agreement to lease 60,000 square feet of space at the Ambridge Regional Distribution & Manufacturing Center.
"We remain committed to these plants, communities and this part of the industry," Bentley said.
Source: Pittsburgh Business Times
In February the Russian-owned company, which produces pipe for oil and gas drilling wells, said it anticipated temporarily laying off 10 percent of its 750 employees in the area. To date, 115 employees have been temporarily laid off, according to spokesman Roger Bentley.
Bentley said the temporary adjustments have been made in an attempt to match supply with demand amid low oil prices. He said the company's business is directly in proportion to the number of rigs on the ground. The U.S. rig count fell below 900 last week, marking the twenty-second straight week of declines, according to Houston-based oilfield services company Baker Hughes Inc.
Bentley said the company continues to believe the layoffs will be temporary, given the cyclical nature of the market. He said there are no plans to close the Beaver County plants in Ambridge and Koppel.
The company looks at adjusting production on a detailed weekly basis, according to Bentley. The layoffs have had no impact on the company's recent expansion, he said.
In February the company signed a 10-year agreement to lease 60,000 square feet of space at the Ambridge Regional Distribution & Manufacturing Center.
"We remain committed to these plants, communities and this part of the industry," Bentley said.
Source: Pittsburgh Business Times
