As downturn in oil and gas industry continues, TechnipFMC lays off 20% of manufacturing workforce.
It was a hard day at TechnipFMC Thursday when 20% of its workforce at the manufacturing facility in Stephenville was laid off.
“This decision has been taken due to the unprecedented market situation caused by COVID-19, declining demand for oil and gas and the resulting reduced levels of workload,” Chris Moore, VP of manufacturing, told Beneath the Surface News. “TechnipFMC continues to take decisive actions to control costs, and to adapt to this new context.
“Any decisions are taken with the utmost sensitivity in terms of how they impact our employees, customers and communities.”
A statement emailed to BTS News said that TechnipFMC remains committed to its current operations and to playing a part in the long-term future of the energy/oil and gas industry.
Moore declined to give an exact number of employees who have lost jobs in this recent round of layoffs.