YOUNGSTOWN, Ohio - Plans by Vallourec to cut more than 2,500 jobs will not impact the steelmaker’s operations in Youngstown, according to a company spokesman.

The maker of steel for the oil industry announced plans on Monday to more than $1 billion, suspend dividend payments and cut jobs.

The lion’s share of the job eliminations are in Europe, while 500 other would be from Vallourec operations around the world, including Brazil.

In response to an email from 21 News, Vallourec spokesperson Jean Gaetano wrote that there is no direct impact to Vallourec Star operations in the U.S. 

The cuts are being made because the slump in oil and gas prices has been causing reduced production in the industry.

The oil and gas downturn was blamed when Vallourec reduced work force by more than 200 at its Youngstown operations last year.