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, http://www.2theadvocate.com
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV