France-based pipe manufacturer Vallourec has announced that it will reduce its workforce in North America due to the unforeseen, sudden and significant drop of activity confirmed by its oil and gas customers.
This decision will affect over 900 employees, which is more than one third of the company’s total workforce, and contractor positions in North America, across all plants as well as support functions. The company will impose the workforce reduction in the coming weeks after the completion of internal and external procedures.