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Tenaris to lay off more than 900 employees at U.S. facilities

Mar. 19, 2020 2:33 PM ETTenaris S.A. (TS) StockTSBy: Carl Surran, SA News Editor
  • Tenaris (TS +9.3%) says it is cutting more than 900 employees from its U.S. workforce, citing the sharp decline in the price of oil and subsequent decrease in market activity.
  • Operations at the company's Koppel and Ambridge facilities in Pennsylvania will be suspended effective March 31, and the threading plant in Brookfield, Ohio, will be suspended as of April 17.
  • Tenaris also will implement employee reductions at its threading plant in Baytown, Tex., and at its Hickman, Ark., welded pipe plant, effective April 17.

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