ProPetro Loses More Workers in Midland
As a result of the unforeseeable, dramatic downturn in business caused by the coronavirus natural disaster, Midland, Texas-based ProPetro Holding Corp. has had to launch another round of layoffs. Approximately 392 workers were affected.
The mass layoff was at its Hydraulic Fracturing Operations facility at 2518 FM 307 and the corporate headquarters at 1706 S. Midkiff in Midland, Texas on May 12, 2020, according to a notice the company submitted to the Texas Workforce Commission on May 12. The layoffs are expected to be permanent.
In March, the company said it would be taking a number of strategic actions to match its cost structure against lower industry activity levels. The overall steps included:
- Workforce reductions
- Reducing maintenance capital expenditures and field level costs
- Negotiating lower prices for expendable items, materials and component replacement parts
- Internalizing some support services that are currently outsourced
In early April, the company laid off 388 workers at the same operations facility.
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