Southwestern Energy Company will lay off 376 employees at its office located in Spring, Texas (just north of Houston), according to a Jan. 21 letter to the Texas Workforce Commission.
The layoffs will be permanent and are expected to begin March 22.
The layoffs in Spring are part of the company’s larger announcement to cut 1,100 positions, Southwestern spokesperson Christina Fowler confirmed in an email to Rigzone. She said about 40 percent of the workforce in the Houston headquarters would be affected.
“We cannot provide specific positions that are impacted,” Fowler said. “These cuts were companywide and affected all departments.”
The company’s workforce reductions are in response to the steady decline of natural gas prices, which “created conditions where cash flow to fund projects will be significantly lower than it has been the past few years” … which “led to a need to reduce the company’s overall workforce.”
Southwestern said it is providing outplacement services, employee assistance, severance and other benefits to help affected employees and their families through the transition.
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