Image courtesy of Williams.

Oklahoma-based Williams will begin job cuts this week as part of a plan to layoff 10 percent of its North American workforce.

A company spokesman told KTUL that the company currently employees about 6,700 workers and will layoff about 670 employees.

The layoffs will begin this week and are expected to be completed early in the second quarter, Fox23 News said.

The company has not disclosed further details about the cuts.

A Williams representative told Fox23 that the workforce at the company’s Tulsa headquarters will be cut by about 10 percent, or about 100 positions, as part of the layoff plan.

Williams also has major offices in Houston, Pittsburgh, Oklahoma City, Salt Lake City and Calgary, Canada.

Williams agreed in September to merge with Texas-based Energy Transfer Equity in a transaction valued at about $37.7 billion, including the assumption of debt and other liabilities.

Williams told Fox23 News that the layoffs are not related to the pending merger.

Energy Transfer Equity had initially expected the merger to generate about $2 billion in commercial synergies by 2020.

In a Securities and Exchange filing seen by Reuters last Wednesday, Energy Transfer Equity revised its synergy estimate down to $170 million by 2020, citing low oil prices and higher capital costs.

The merger must still win shareholder and regulatory approval and is not expected to close before May 31, Barron’s said.

The companies have not disclosed a timeline for closing the deal yet.


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