Venezuela's Citgo Petroleum says it's laying off 75 employees because of the world economic crisis.
The company says it's restructuring to better adapt to the economic downturn.
Citgo says 2 percent of its 3,762 employees will be offered special severance packages.
In a Wednesday statement announcing the layoffs, Citgo denied reports that there have been massive numbers of employees let go.
The company said last month it re-evaluated a program to provide heating oil to poor U.S. citizens. But it has decided to go ahead and donate up to 45 million gallons — worth $60 million at today's prices.
Based in Houston, Citgo is a subsidiary of Venezuela's state oil company.