Photo courtesy of Baker Hughes

Baker Hughes, a major oilfield services corporation, is laying off 174 employees as it closes its Emmott Road facility in northwest Houston, according to filings with the Texas Workforce Commission.

"Baker Hughes continually reviews our portfolio and business operations to ensure we are best positioned to serve our customers and deliver on our long-term growth objectives," a company spokesperson said in a statement. "These decisions are always difficult and are made with the utmost sensitivity to the impact on employees, communities and customers."

The layoffs began earlier this month and will continue through April of next year, according to workforce commission documents.

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The Houston-based company employs more than 56,000 people around the world, according to its website.

Several major oil and gas firms announced layoffs last year, during a period of low oil prices. The cost of oil has skyrocketed during the United States’ and Israel's war with Iran, but have not remained stable, leading to uncertainty among many industry leaders, who have been hesitant to substantially increase production during the constantly changing situation in the Middle East.