From staff reports OKLAHOMA CITY – Kimray Inc., an Oklahoma City-based oil and gas control equipment manufacturer, announced it is cutting its workforce by 15% to narrow its focus on core business functions and strategic priorities. The reduction in force affects approximately 120 individuals.
“While there has been a softening in the oil and gas market, there is still a healthy demand for our product.,” CEO Thomas Hill III said. “After evaluating our long-term goals, we decided to focus more on Kimray’s core business. This means reducing our staff and reorganizing our teams.”
The reduction impacts all areas, including administration, sales, production and production support, he said.
“We are committed to helping our people through this transition with at least three months of wages and benefits,” Kimray President Bob Cole said. “We also will provide job placement and counseling services to help them find new employment.”
“This difficult decision is necessary for the long-term health of the company,” Hill said. “We have employed thousands of people during our 75 years of business, and each one contributed to what Kimray is today.”