The Dril-Quip Eldridge Facility will be closed 1st and 2nd shifts tomorrow (2/19/2021).
About 200 million people were under some sort of weather-related alert as the winter storm moved through the U.S., and about 5 million were without power, a majority of them in Texas, where temperatures were well below freezing across the entire state. Now that the storm has passed, I am reaching out to all our employees to communicate what we can do as a company to assist you.
First and foremost, I want to ensure that you and your family are safe. Therefore, we will remain closed until Thursday first shift and the Crisis Management team is evaluating conditions on a continuous basis and will communicate about resuming essential operations as soon as they are able.
Please know that we will minimize the impact to your pay during the period that Dril-Quip operations are closed due to this disaster. The company will compensate you for your regular work hours for the period that we are closed, and payroll will continue our regular schedule.
The Dril-Quip Employee Assistance Fund was established to provide need-based financial relief for employees of Dril-Quip, Inc. or any of its subsidiaries following a natural disaster or other crisis event. Financial assistance granted from the Dril-Quip Employee Assistance Fund is a tax-free grant and is not required to be paid back.
All regular full-time and part-time employees of Dril-Quip, Inc. or any of its subsidiaries may apply for assistance through the Dril-Quip Employee Assistance Fund. To be eligible, an employee’s compensation level cannot typically exceed US$90,000 per year in salary or wages and an employee must have been employed for at least three months and must still be employed at the time of disbursement of funds
For those employees who suffered significant loss or expense due to this storm (dislocation from their personal residence/home, major home repairs, etc.) may be eligible for the assistance fund. Employees can request assistance by completing the attached form which is also available on the US HR Portal on DQ Connect.
The Employee Assistance Fund was established with funds from the company but to remain a tax-free grant for our employees it needs the support of our employees in addition to funds contributed by the employees. For every dollar contributed by Dril-Quip employees the company can contribute two dollars, so your generous gift is doubled to help your fellow employees. Therefore, please consider making a one time and/or recurring contribution using the attached form (also available on the US HR Portal).
It’s been difficult few days and we have a long road to recovery. However, I know from experience with all of you that working together we will get through these difficult times. Stay safe and God Bless.
Chief Executive Officer