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OKLAHOMA CITY – An Oklahoma City oil and gas control equipment manufacturer announced another round of layoffs Monday.

Kimray, Inc. announced that it will reduce its workforce due to the prolonged industry downturn.

“Like many businesses in the energy industry, we have to make very difficult decisions,” said Kimray CEO, Thomas Hill III. “Over the last year, we have taken many steps to ensure the long-term future of the company and we once again need to reduce our workforce.”

The company plans to eliminate 120 positions by the end of the week.

According to a news release, 118 of those positions are located in or report to the Oklahoma City location.

“We are preparing appropriate severance packages and benefits for employees whose positions will end,” said Executive Vice President, Shad Glass. “In addition, we will offer job placement services and counseling to help with the transition.”

This is the company’s second round of layoffs this year.