U.S. Silica cuts 10% of workforce

(Reuters) – Frac sand miner U.S. Silica Holdings Inc said on Friday it had cut about 230 jobs to reduce costs amid challenges in the energy market.

The company said it expects to incur about $1.7 million in related severance costs in the fourth quarter of 2019 and will consider any impairment charges as it closes the fourth quarter and fiscal year end.

The staffing reductions equal about 10% of the total company workforce and includes corporate employees and the idling of both the Utica, Illinois and Tyler, Texas mines, it added.

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