The move follows GE's notification to regulators in January of the planned layoffs of 330 people at its beam-pumping manufacturing facility in Lufkin, Texas. GE bought oilfield pump maker Lufkin Industries for about $3.31 billion in 2013, one of several significant deals the company has struck to boost its presence in oil and gas.
via Business News http://ift.tt/1xhvy8e
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