Preferred Sands lays off number of employees late last week
A Genoa employer that works directly with Loup Public Power District confirmed that a wave of employee layoffs occurred last week.
“On (Thursday) Sept. 27, 2018, Preferred Sands announced a reduction of personnel at its Genoa, Nebraska facility,” company representative Matt Goldstein said through an emailed statement. “While this strategic decision was made in part due to changing market conditions and a downturn in demand for regional frac sand, it is also a necessary step in our continued national in-basin strategy aimed at reducing costs and developing more facilities closer to the end user. We remain committed to being the most dependable, lowest cost-landed-at-well provider of frac sand for our customers in the areas in which we operate.”
The plant just west of Genoa uses sand dredged from the Loup Power Canal to make products used in hydraulic fracturing — a process that extracts natural gas and oil by injecting water and sand into the ground to break through layers of rock. Preferred Sands purchases sand from Loup Public Power District.
The Telegram asked Goldstein to provide specific layoff numbers, as well as to clarify whether compensation and severance packages were issued to those losing their jobs, however, those specific questions were unanswered.
In 2015, the company also cut its workforce numbers. As with the current layoff, Preferred Sands didn’t provide the specific number of employees eliminated.