AM I NEXT? NO LOVE AT TENNECO (01/06/25)

JANUARY 6, 2025 — EL PASO, TEXAS

As part of its ongoing restructuring and cost containment efforts, the company has announced the downsizing of its El Paso, Texas facility and the layoff of 140 employees in five phases commencing on February 15, 2025.

NOVEMBER 20, 2022— PLANY CLOSURE IN JEFFERSONVILLE, INDIANA

The company has announced the closure of its ride control and emissions products plant n Jeffersonville, Indiana impacting 123 employees in stages until the plant closes in February 2023.

According to the company, the closure is due to the loss of business that generates approximately 22% of the revenue at the Jeffersonville location.

JULY 3, 2022 — IT BEGINS

Layoffs at the Tenneco plant in Kettering have begun as the facility moves toward fully and permanently closing in November 2021.

According to a company spokesperson, “As part of our previously announced plan to close the Kettering facility by the end of 2023, we are eliminating some positions this week, affecting 54 team members.”

NOVEMBER 11, 2021 — PLANT CLOSURE IN KETTERING, OHIO PLANNED.

The company has announced its intention to close its Kettering, Ohio shock absorber manufacturing facility before the end of 2023. The closure will impact approximately 648 employees.

According to a company spokesperson, “This difficult decision is part of the company’s need to realign its manufacturing footprint to respond to changing market conditions and capacity requirements. This is a great team in Kettering and we recognize the impact this action will have on our team members. We will work to provide transition assistance for all affected team members, including some opportunities to transfer to other Tenneco locations.

OCTOBER 28, 2020 — Original post…

Lake Forest, Illinois-based Tenneco, a manufacturer of automotive components including original and aftermarket equipment, has announced the layoff of 350 employees located at the company's piston manufacturing facility in South Bend, Indiana. The work will be distributed to other Tenneco facilities.

The 260,000 square-foot facility was acquired from federal Mogul two years ago and now represents excess space that may be available for lease or sales.

According to a company spokesperson, the decision was “difficult, but necessary” occasioned by the status of the market for the company's piston products. “This particular action isn’t related to current market conditions. We have a systemic profitability challenge we have to correct.”

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?

AM I NEXT? NO LOVE AT U.S. SPACE & ROCKET CENTER

Huntsville, Alabama-based U.S. Space & Rocket Center, a museum operated by the government of Alabama, has announced that they will permanently lay off 100 employees while furloughing the rest of the staff.

According to an organization spokesperson, "We have no idea when we will be able to be back to normal operations, no guidelines or guidance on when we will be back to normal operations. The museum is aiming to reopen some time next week, but is still awaiting word from the state health officers on how that reopening must be handled."

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?

AM I NEXT? NO LOVE AT HELMERICH & PAYNE

Tulsa, Oklahoma-based Helmerich & Payne, a contract drilling and services provider to the oil and gas industry, has announced a reorganization program to meet the challenges of a depressed oil market and an interruption in the exploration and servicing operations of their customer base. The decision impacts 2,800 employees, the redeployment or sale of assets, and the decommissioning of 37 large drilling rigs.

According to a company statement...

"Throughout our history, the company has sought to be in a position of strength, both operationally and financially, to face the uncertainty and an inherent cyclicality of the energy industry. We have taken swift actions to maintain the health and safety of our employees and customers. We've also made difficult, measured but necessary decisions aimed at preserving the company's long-standing financial strength and its future.

"While the crude oil market imbalance is a global phenomenon, it has more acutely impacted the U.S. market as a result of storage limitations subsequent to March 31. The abruptness of and the overall size of the decrease in demand for refined products such as gasoline and diesel has created an abundance of supply, which has caused refining capacity to shrink, resulting in excess crude oil. This crude oil overhang in supply has created a storage dilemma for E&P companies, limiting opportunities to market their production. And even when they can sell, the prices are very depressed. Consequently, some E&P companies have chosen to shut in production, postpone completions of drilled and uncompleted wells, and many E&Ps have stopped drilling wells entirely until the market imbalance rights itself and it once again becomes economic to resume production and drilling. It is obvious that these current circumstances hold long-term negative implications for our industry. Our experience has shown us that two factors hold the key to surviving a downturn and ultimately furthering the strategic objectives of the company: first, maintaining financial strength; and second, maintaining a long-term view for future potential opportunities."

"In this regard, we will remain focused on establishing new commercial models, expanding our digital technology offerings to customers, increasing our international presence, and cost management. Liquidity is critically important at a time like this, and we are actively reducing expenses in a thoughtful and intentional manner. We are drawing on learnings from the 2015/2016 downturn to idle rigs more efficiently, and we're seeing additional innovative efforts throughout the company pay off and anticipate that this will continue. Given this current environment, we are rightsizing our organization to reflect these new realities."

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?