This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Shaw Group Makes Second Round Of Cuts

BATON ROUGE, La. (AP) ¿ The Shaw Group Inc. has taken a second round of cuts in two months in its pipe fabrication business, bringing the number of lost jobs in Louisiana and Oklahoma to 410.

The company said it cut 40 workers from a shop in Walker, La., last week and is closing a plant in Tulsa by the end of August, ending another 168 jobs.

In late April, Shaw said its closure of a pipe fabrication shop in West Monroe would end the jobs of 202 employees.

The cuts are due to a reduced number of orders at each shop, said Shaw spokeswoman Gentry Brann.

"The piping, fabrication and construction industry has always seen an influx and outflow of employees based on the quantity of work at any one given time," Brann said.

The company had been ramping up pipe fabrication before the recession. Last year, Shaw opened a 370,000-square-foot pipe fabrication facility in Matamoros, Mexico ¿ just across the U.S. border from Brownsville, Texas ¿ but the company said then that it didn't expect that expansion to close other shops.

Shaw had operated the Tulsa plant since 2006.

The company is holding a job fair next week in Lake Charles, where Shaw is filling a 1,400-job payroll for a nuclear reactor components plant. Workers who lost their jobs will be eligible to apply for the jobs in Lake Charles or elsewhere within the company, Brann said.


Information from: The Advocate,

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $123.25 0.00%
FB $83.30 0.00%
GOOG $548.34 0.00%
TSLA $185.00 0.00%
YHOO $45.10 0.00%


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs