Lower energy demand blamed in layoffs
Citgo official has no comment on move's effect here
CORPUS CHRISTI — Declining profits from decreased energy demand led to the layoff of about 75 employees, Citgo officials said Thursday. The Houston-based, Venezuela-owned company declined to give the number of employees affected at its two Corpus Christi refineries.
Fernando Garay, a Citgo Petroleum Corp. spokesman, said a slowdown of the national economy affected every aspect of the oil industry, which for Citgo meant lower refining margins. The restructuring is intended to strengthen the refiner’s position now and in the future, he added.
The company announced the layoff Wednesday, saying about 2 percent of its 3,762 employees would be let go. That translated to about 75 affected personnel.
“The company is seeking to optimize organization performance,” Garay said. “The decision was not based on types of position. Further details on that are not available.”
Beside the local refineries, Citgo has facilities in Lake Charles, La., and Lemont, Ill. About 500 people are employed at the local plants.
Citgo is one of the city’s largest employers and is owned by government-owned Petroleos de Venezuela, S.A.
Contact Fanny S. Chirinos at 886-3759 or chirinosf@caller.com
