YOUNGSTOWN, Ohio (WYTV) – Vallourec Star announced Thursday that it will cut 60 to 80 jobs by early August in response to reduced demand and sales, according to a press release.
The release from the company stated that impacted workers will receive a severance package. Vallourec supplies tubing and piping for the oil and gas industry, which has experienced a bit of a downturn, according to the release.
“We exhausted all options before taking this step, including voluntary layoffs and early retirement.” President Judson Wallace said. “We have a strong, skilled workforce and I am
hopeful we can re-hire people back as our needs change in the future.”
Vallourec said it remains confident in its hopes for long-term business success.