Oil and gas equipment supplier Dresser-Rand, a Siemens Business, is closing its support facility located on E. Hardy Road in North Houston, Texas. In a letter to the Texas Workforce Commission, Dresser-Rand said the closure of the Leading Edge facility will be permanent and will result in the layoff of 72 employees.
The closure of the facility will be finalized between Feb. 21 and March 5, 2016, according to the letter. All affected employees have been notified and have no bumping rights.
Houston-based Dresser-Rand was acquired by Siemens AG, a German multinational conglomerate company in late June 2015 for $7.8 billion.
Unfortunately for the oil and gas industry, Dresser-Rand’s announcement to close its facility and lay off 72 workers is just one of the latest in layoff announcements, with some companies expecting to lay off employees through 2017. According to many experts and analysts, the industry will experience a tough 2016 in regard to the low oil price environment before there are any chances of a market turnaround.
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