Oil prices force Vallourec cuts in hours and workforce

February 24, 2015 at 4:34p.m.

YOUNGSTOWN

France-based Vallourec, parent company of Vallourec Star, said in its financial earnings for 2014 it would reduce working hours, and its workforce in its mills this year because of low oil prices.

“In 2015, immediate and structural measures in the mills will result in a reduction of approximately 15 percent of working hours, including a reduction of approximately 7 percent of the workforce,” the company said in a news release.

The specific impact on the Youngstown facility has not been disclosed.