Worthington Industries Inc. has announced that it will cut approximately 245 employees at its oil and gas equipment locations in Garden City (Kansas), Skiatook (Oklahoma), and Bremen and Wooster (Ohio), US.
The company has also made the difficult decision to close its Engineered Cabs facility in Florence, South Carolina, which will impact approximately 310 emplouees.
John McConnell, Chairman and CEO, Worthington Industries, said: "The weaker market conditions in Engineered Cabs combined with a need for significant capital investments to address production challenges led to this decision […] These decisions that so deeply impact the lives of our employees are never easy or taken lightly."
Worthington Industries confirmed that severance packages will be provided based on years of service, and employment assistance will be offered to employees in Florence and in the oil and gas locations.
The company will record a US$2.3 million restructuring charge for severance benefits related to the workforce reductions at the oil and gas equipment locations.
Edited from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/25032015/worthington-cuts-oil-and-gas-jobs-477/