Hundreds more oil-industry workers in Texas—including 330 in the oil and gas division of General Electric Co. —are about to lose their jobs as U.S. crude prices languish below $50 a barrel. In recent letters sent to the Texas Workforce Commission, GE Oil & Gas and two other energy companies warned state regulators of plans to cut 720 employees around the state. GE said it would cut about 45% of staff at its Buck Creek oil field equipment manufacturing plant in Lufkin, Texas, about 120 miles northeast of Houston. The layoffs are scheduled to begin in late March and are part of a restructuring drive to reduce costs, the company said. This “is a decision we don’t take lightly but one we must undertake for the long-term health of the business,” the company said. Analysts at Moody’s Investors Service said oil and gas has been an engine of growth […]