Come July 1, a Louisiana steel tubing manufacturer that supplies the oil and gas industry is slashing its workforce in half.
Benteler Steel has notified the Louisiana Workforce Commission that it will lay off 375 workers from its facility at the Port of Caddo-Bossier. Total workforce is thought to be 530, Port Director Eric England tells KTBS 3.
The global German company has nearly 100 locations in 30 countries, and is one of the Shreveport area’s largest employers.
Benteler calls the layoffs temporary. Its Chief Operating Officer, Christian Wiethuchter, said in a statement that the layoffs are “unavoidable,” as production of OCTG pipes has declined significantly. Reduced production is expected through year’s end. “Our goal is to return to full production as soon as the market recovers,” Wiethuchter says.