Williams Cos. employees used to “living on Tulsa time” may have to reset their watches in the next few weeks, after the company last week began following through on plans to slash its workforce payroll up to one third, slicing about 4,000 positions eventually through asset sales, retirement and layoffs. Most of the affected employees will no longer be Williams employees when the assets are sold, but the internal cuts will be deeply felt in the wounded energy trading unit in Tulsa, where at least 100 were expecting a final paycheck last week.
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One-Third of Williams’ Workforce May Be Cut through Asset Sales, Merchant Layoffs
Williams Cos. employees used to “living on Tulsa time” may have to reset their watches in the next few weeks, after an internal company memo announced that the Oklahoma-based company will slash its workforce payroll up to one-third, slicing about 4,000 positions through asset sales, retirement and layoffs. Most of the affected employees will no longer be Williams employees when the asset sales are completed, but the cuts will be deeply felt in the already wounded energy trading unit in Tulsa, where at least 100 will get a final paycheck in the next few days, and up to 330 in the next two months. London is expected to trim up to 70 European traders, while Houston could lose up to 25.
August 8, 2002
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