Another round of layoffs at Lufkin Industries

LUFKIN, TX (KTRE) - Lufkin Industries has announced another round of layoffs, this time from its foundry division.

Seventy-seven additional workers from the company's foundry division were terminated with benefits and severance last Friday. This is after 173 employees from the oilfield unit were let go on March 6th.

Lufkin Industries Vice President, Paul Perez, says L-I is resizing to adjust to a slowdown in customer orders.  He said it's never an easy decision to reduce the workforce and is hopeful those laid off workers will be able to return to work once business improves.

The terminated workers are on what the company refers to as "recall status" and will be "called back according to the order they were laid off should business pick up and warrant it."

Founded in 1902, Lufkin Industries Inc. is a vertically integrated company that designs, engineers, manufactures, sells, installs and services high quality and high value-added oil field equipment and power transmission products across the globe.