TULSA – This week a local oil company announced its plan to reduce its workforce by around 20 percent.
D&L Oil Tools sent a statement Tuesday saying that “effective immediately” it will layoff 53 employees. The company went on to say that the decision was made in part because of the oil prices falling and the effect it has been having on the company’s revenue projections.
“This has been an unbelievably tough year for us and all in the oil and gas industry,” Lee Eslicker, Founder and President of D&L Oil Tools said. “We are very close-knit company and days like today are far more than a difficult business decision, they really strike a personal cord.”