Yes, i heard similar rumors about a big layoff in Houston. I checked TWC.state.tx.us and found no reports, under the WARN ACT Bechtel has to make a report. The Houston-Bechtel employees should not have an issue finding work with another construction firm.
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I agree, most of our folks are highly employable - the older folks might have an issue due to compensation and seniority, but even in the most extreme cases they should not have problems finding a decent and well paid job