TULSA - Another energy company has announced layoffs amid low oil prices. Williams announced Tuesday that the company has laid off 10% of it's North American workforce.
Below is the full statement from the company.
These difficult decisions about employment reductions come as part of the company’s 2016 business plan, which aligns the company’s future growth with the realities of the current energy market. Click here for a link to the January announcement of the plan.
The company began implementing cost reduction initiatives in the first quarter of 2016, including the postponement salary increases, significantly reducing or eliminating hiring in some areas of the company and also reducing the number of contractors and outside services the company utilizes.
Overall, the reductions are expected to affect approximately 10% of William’s total workforce across North America. Some areas, especially those focused on supporting growth in the supply basins where we are seeing pull back in producer activities, will likely be more affected than others.
The reductions are being communicated to affected employees in late March and into the very early part of the second quarter of 2016. The company will provide severance, including benefits and outplacement services, to affected employees.
The reductions are focused solely on sustaining Williams’ future growth and not related to the proposed merger with Energy Transfer Equity.
Others, like Kim Hann, Assistant Executive Director of the William's Route 66 Marathon, worry that recent layoffs signal other changes coming to the company and it's impact on the Tulsa Community.
"We’ve been extremely grateful for Williams’ support of the Marathon and we’re fortunate they will continue to be the title sponsor for the 2016 race. The Williams Route 66 Marathon is one of the top marathons in country, and we saw unprecedented growth of 50% last year. Planning for 2016 is in full swing, and we’re looking forward to continued support from all of our local and national sponsors."
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