Fort Worth, Texas-based Basic Energy Services, a provider of well servicing and production services to the petroleum industry, has announced the layoff of 1400 employees following its bankruptcy unless a purchaser can be found that will also retain the company's employees located in three states, California, New Mexico, and Texas.
The Texas locations include two facilities in Andrews, and one each in Big Spring, Denver City, Fort Worth and Kenedy.
Hundreds of employees at Basic Energy’s California locations and one New Mexico location were also given notice about potential layoffs.
According to a statement issued by the company, “The company has faced extraordinary challenges as a result of the COVID-19 pandemic, and we thank the Basic team for their ongoing hard work and dedication as we continue to provide our customers outstanding service, experienced crews and a wide range of safe and efficient production services."
“If the company does not enter into such sale transactions, the company currently expects that it will be forced to wind down its operations and conduct reductions-in-force.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?