Enable Midstream Partners (ENBL) Plans 10% Workforce Reduction

Enable Midstream Partners (NYSE: ENBL) announced that it will reduce its companywide workforce by approximately 10 percent during 2015. The announced reductions will follow an extensive analysis and realignment of the company’s organizational structure. The company said that it is nearing completion of the realignment and that it will be consolidating certain corporate functions to Oklahoma City and Houston to reduce costs and improve efficiency. It expects to announce those changes in the near future.

“Volatility in the commodity markets is taking a toll on our customers and driving our need to respond to what will, undoubtedly, be one of the most financially demanding years we’ve seen in the energy sector,” said Enable Midstream President and CEO Lynn Bourdon. “We find ourselves in a challenging market, forced to make some very difficult decisions. Today’s announcement follows a great deal of careful and thoughtful consideration as to how best to ensure that we meet our long-term financial objectives and to respond quickly in this dynamic market.”

Bourdon applauded the Enable Midstream workforce and added that the company will work tirelessly to ease the transition for affected employees.

“This was a terribly painful decision for us,” he said. “We are very proud of the work our employees have done and what they’ve accomplished in our short time as a standalone company. We especially appreciate the hard work and dedication of those Enable employees who will be affected by this decision. We recognize that this will be very disruptive and will work tirelessly to make the transition for those affected as smooth as we can.”

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