General Electric will reportedly cut hundreds of jobs at some of its service facilities in Texas.

According to Fuel Fix, the company has already begun cutting a total of 362 jobs from three facilities in Lufkin, Texas and expects to finish the cuts sometime in August.

A GE spokesperson told Fuel Fix that the cuts are in response to prolonged low oil prices.

The facilities were acquired by GE when it bought Lufkin Industries for about $3.3 billion in 2013.

Lufkin Industries is a leading provider of artificial lift technologies for the oil and gas industry and a manufacturer of industrial gears based in Lufkin, Texas.

The three impacted facilities include a gear repair plant, a power transmission site and a manufacturing facility.

Earlier this month, GE signed a Memorandum of Understanding (MoU) with Italy’s Cividale SpA to build a high-end forging and casting manufacturing facility in Saudi Arabia that will serve the region’s maritime and energy industries.

The joint investment is valued at over $400 million and is expected to be operational in 2020.

The MoU follows a preliminary partnership between Saudi Aramco and Cividale to conduct feasibility studies for forging and casting manufacturing services in Saudi Arabia.


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