Electra Company Lays Off Workers Due to Dropping Oil Prices - KAUZ-TV: Newschannel 6 Now | Wichita Falls, TX

Electra Company Lays Off Workers Due to Dropping Oil Prices

Layline Energy has laid off workers due to dropping oil prices.

According to the company, it was a reduction in force and 19 people were laid off.

That number represents about 20-25% of the workforce.

A company official says the reason is blamed on oil prices dropping from roughly $100 a barrel to about $45 per barrel. Thought they say that if prices go back up, there is always hope of rehiring those that were let go.
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