Southwestern Energy announced Jan. 21 it is laying off 1,100 employees. Of those, more than 300 Houston-area employees associated with the headquarters in Springwoods Village will be affected.

The layoffs are due to the decline  in gas prices, the oil company said.

“Natural gas prices have continued to decline over the past year, creating conditions where cash flow to fund projects will be significantly lower than it has been the past few years,” said Southwestern Energy  in a statement.

The company has decided to reduce its overall workforce to remain competitive in the current economic environment.

“We regret having to make this decision, and we thank all of our employees who were affected by [the Jan. 21] announcement for their contributions to Southwestern Energy Company,” the statement said.

The company announced it is providing outplacement services, employee assistance, severance and other benefits to support affected employees and their families through the transition.

The outplacement services the company has stated it is providing include individual career coaching, job leads, job search tools and training on the use of social media for job searches, said Susan Richardson, director of corporate affairs for Southwestern Energy.

The Southwestern Energy campus in Springwoods Village, a master-planned community in Spring, was completed in December 2014.