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GE Cuts Jobs, Closes Foundry at Lufkin Unit

2015-08-25 05:41:25| Oil & Gas - Topix.net

Slide in oil prices has led to a drop-off in demand for the drilling equipment made by GE's Lufkin unit General Electric Co. plans to close a historic foundry and eliminate more than 250 jobs at its oil-field services unit in Lufkin, Texas, as the company deals with a drop in demand for drilling equipment in the wake of plunging oil prices.

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