Tenaris to Suspend Operations at U.S. Facilities
Tenaris will be reducing its workforce in the U.S. due to the abrupt, sharp decline in the price of oil and subsequent decrease in market activity. Employees at the company’s facilities in Koppel and Ambridge, Pa., have been informed that operations at the two plants will be suspended effective March 31, 2020. Operations at its threading plant in Brookfield, Ohio, will be suspended as of April 17, 2020. Tenaris will also be implementing employee reductions at its welded pipe plant in Hickman, Ark., and at its threading plant in Baytown, Texas, effective April 17, 2020.
The adjustments across the facilities will result in the layoff of more than 900 employees. Given the ongoing coronavirus outbreak, Tenaris will be offering employees being laid off three months of COBRA health insurance with the possibility of being extended should the outbreak persist.