Am I Next? Possible business cycle layoffs at TMK IPSCO

Houston, Texas-based TMK IPSCO TUBULARS, a Russian-owned manufacturer and supplier of steel pipes for the oil and gas industry, has announced that it is considering laying off all 159 workers at its Wilder, Kentucky facility commencing September 24, 2019 due to a downturn in the oil and gas industry. The company noted that its last layoff of 83 employees was attributed to pricing issues with subsidized foreign steel that was unfairly priced to undercut U.S. producers. The company lists 28 production sites in the United States that may also be vulnerable to layoffs.

Due to political considerations involving trade, tariffs, and environmental issues, the construction of oil and gas pipelines has failed to keep pace with gas and oil output, which has more than doubled over the past three years to make the nation energy independent and a net exporter of fossil fuels. Unfortunately, one of the nation’s most abundant energy sources is gas that cannot be stored in tanks or transported by truck or rail cars without being liquefied.

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?