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US Silica to Cut Workforce by 10%, Idle Two Frac Sand Plants
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U.S. Silica has plans to cut its workforce by ~10%, according to multiple reports.
The layoffs will affect approximately 230 employees. The company estimates it will save ~$20 million in expenses as a result of the reduction.
The move comes as frac sand demand dwindles due to sluggish industry activity. The drop in demand has spurred U.S. Silica to idle its frac sand plants in Illinois and East Texas.
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