Tuesday, February 23, 2016

FTSI Forced to Lay Off Workers, Seek Sale of Sand-Hauling Assets

From the Observer-Reporter:
FTS International, the well-completion company that recently laid off workers at its two Washington County sites, is in the process of selling its sand-hauling assets to a third party. 
The decision is mentioned in an internal memo from the company’s chief executive officer that was provided to the Observer-Reporter. 
On Friday, the Fort Worth, Texas-based company, which is the largest private oil and gas well completion service in North America, laid off an undisclosed number of people at its sand-hauling site in Venetia and others at its larger operations complex near Eighty Four. 
While not providing the number of people who were let go, the company acknowledged in an e-mail Monday it was “adjusting headcount” in response to lower customer demand. The company said it was not closing its Venetia or Eighty Four facilities. 
A former employee, who asked to remain anonymous, said later Monday, FTSI laid off 34 sand-truck drivers and seven “coordinators” at Venetia Friday.
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