VIDEO: Williams to notify employees of layoffs later this month
Updated: March 11, 2016 - 10:48 PM
Williams Cos. announced plans to layoff 10 percent of workforce
They will begin notifying employees in late March
Impacted employees will receive severance packages
Tulsa-based Williams Cos. announced plans Friday to layoff 10 percent of its North American workforce.
The company released the following statement:
These difficult decisions 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.
The company began implementing a variety of cost reduction initiatives in the first quarter of 2016. Overall, the employment reductions are expected to affect approximately 10 percent 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 growth opportunities, will likely be more affected than others.
Officials plan to begin notifying employees later this month.
Williams Cos. will provide severance packages to impacted employees.