TULSA, Okla. - A Tulsa-based company has joined others in the oil industry announcing plans for layoffs.
Helmerich & Payne confirmed that an expected 2,000 layoffs have already begun.
The company is one of a handful in Oklahoma hurt by the drop in oil prices. Thursday Tulsa Chamber of Commerce President Mike Neal said the chamber is concerned but don’t believe it is time to panic.
A company spokesperson said in a statement that they types of positions being cut are not those in Tulsa, but positions directly related to operating oil rigs.
Neal said he is hopeful that means the company’s 500 employees in Tulsa are safe.
He told FOX23 the downfall affecting local oil companies has prompted some change.
“We’re in the process of starting a new energy council to bring the leaders of our energy industry to get their best thoughts and ideas as to how they’re going to address the challenge,” Neal said.
Helmerich & Payne officials said they expect to see a fall in revenue for the rest of their fiscal year.