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Economy

Camanche Factory to Lose 100 Jobs

tmk_ipsco_layoffs_facilities_camanche.jpg
https://ipsco.com/facilities/camanche-ia/
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TMK IPSCO

Later this summer, more than one-hundred people who work for a plant in Camanche will have to look for new jobs. 

Currently, TMK IPSCO employs 119 people at its steel pipe and pipeline factory. The company says it has sent layoff notices to 101 employees. And they will take effect starting in mid-August. 

TMK IPSCO says orders for its products have dropped due to the increase in US oil inventories, and domestic oil production may have peaked. So the industry doesn't need as many oil rigs, and oil prices are dropping.

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