Texas Steel Conversion warns of layoffs amid oil crisis

Texas Steel Conversion, which makes metal pipes and pipes for the oil industry, said it could begin laying off workers at six locations this month. Texas Steel Conversion wrote in a letter to the state: “Due to the COVID-19 pandemic and the current oil and gas market, all 491 employees in all working positions are potentially at risk of losing their jobs. TSC is cutting its workforce due to the impact of COVID-19 on the oil and gas industry. TSC has no plans to cease operations. "

The company plans to begin layoffs on June 15th. The cuts could happen in stages, the company said in a notice.

In recent months, falling oil prices have led oil and gas operators to cut back on drilling operations, and tens of thousands of oil and gas workers across Texas lost their jobs in April.

Texas Steel Conversion was founded in 1975 and is headquartered in Houston. In 2000, he started the production of drill pipes; The company has four manufacturing facilities in Houston and one in Brian, Texas, near College Station. Texas Steel Conversion also has one sales office in Houston.