http://www.bizjournals.com/houston/news/2016/09/12/national-oilwell-varco-to-consolidate-houston.html
National Oilwell Varco Inc. (NYSE: NOV) plans to cut more Houston jobs as it consolidates locations, the Houston-based company told the Texas Workforce Commission.
The oil field equipment and services company will relocate work from its SHP facility at 1530 W. Sam Houston Parkway in west Houston to its FM 529 facility in northwest Houston, according to a Worker Adjustment and Retraining Notification letter sent to the TWC. The entire SHP facility will be consolidated with the 529 facility, the letter stated.
Some SHP employees will be transferred to the 529 facility, but the company told the TWC 54 jobs will be cut. NOV said it would excuse the affected employees on Sept. 1, but they would receive pay and benefits for at least 60 days. Separations are expected to begin Nov. 1 and be complete by Nov. 14.
Affected workers are not represented by a union, and they do not have bumping rights, meaning workers with more seniority cannot take the jobs of those with less seniority.
NOV has had several job cuts around Texas over the past year or so as it weathers the oil slump. Most recently, the company cut 54 jobs in Galena Park just outside of Beltway 8 east of Houston. Earlier this year, NOV closed a manufacturing facility in Baytown, affecting 107 jobs.
NOV had reduced its workforce by 6,000 employees during the first quarter, Clay Williams, chairman, president and CEO, said during a conference call in April. In the second quarter, the company cut its workforce by 10 percent, according to a July conference call transcript posted by Seeking Alpha.
“Since the downturn began, we have closed or are closing over 250 facilities to reduce capacity in view of lower demand,” Williams said during the July call. “We have also insourced work being previously outsourced to retain as many of our employees as possible and to help with absorption. Importantly, we do not believe we have sacrificed our ability to ramp up and respond to the eventual recovery.”