Drastic drop in market forces TechnipFMC to lay off 30 percent of its workforce
By SARA VANDEN BERGE
TechnipFMC launched a massive round of layoffs this week that reduced its local workforce by 30 percent, costing 145 people their jobs.
It is the largest round of layoffs in the company’s recent history.
Chris Moore, vice president of manufacturing, issued a statement about the layoffs to Beneath the Surface News on Friday.
“The drastic drop in market activity due to the COVID-19 pandemic and declining demand for oil and gas has resulted in a number of difficult organizational changes, including the elimination of office and shop positions at our Stephenville facility,” Moore said. “These difficult decisions are made with the highest sensitivity in terms of how they will impact our employees, their families, our customers and communities where we operate.”
He said the company is doing all it can to help affected employees pursue new career opportunities.
“This unprecedented situation has created a challenging environment for our business and the industry, requiring us to make hard choices to ensure we can continue to support and serve our customers,” Moore said. “We appreciate the many contributions these employees made to TechnipFMC, and we are committed to treating all employees with the utmost respect and dignity.”