Walter Pierce

Local oil services company announces furloughs

by Walter Pierce

More evidence is bubbling up that contraction in the oil patch is having a negative impact on the local industry. Houston-based Tesco Corporation, an oil-services company with an office in Lafayette, distributed a letter Friday to employees announcing unpaid furloughs for most workers, according to a source close to the local operation. Furloughs are essentially involuntary time off given to employees as a cost-cutting measure. No one at the local office on Moss Street wanted to discuss the furlough program. A message left at the company’s corporate office also was not returned this morning.

According to the company’s Web site, Tesco employs more than 1,600 people in 23 countries. The company’s research, engineering and manufacturing units are headquartered in Calgary, Alberta, Canada.