E&P to reduce labor force

E&P management put out a press release today stating it would be reducing its labor force from nine to eight. This is a reduction of slightly over 10% and will be effective January 1st. The remaining eight positions will still be filled on a first-come first-served basis. When questioned about the reason for the reductions E&P management responded they were based on efficiency improvements also planned to take place on January 1st. E&P management indicated there would be more press releases coming shortly.