TULSA, Oklahoma - After PennWell announced layoffs to the company, 100 Tulsans are preparing for a job change.

An employee at PennWell who is being laid off told News On 6, "It used to be a family business - and now, it's a business."

PennWell was founded in Tulsa just three years after Oklahoma became a state, but now it’s shrinking.

In a news release, the company says staffing levels will change from about 470 people around the world to about 340 - a loss of about 130 jobs, 100 of them belong to Tulsans.

An employee who wanted to remain anonymous said she and her co-workers anticipated layoffs were coming when rumors started circulating.

Clarion Events, a London-based company, bought PennWell in April 2018.

"This was a difficult decision, but a necessary step to achieving our long-term vision. We will do everything we can to support our former employees. All affected employees locally and off site will be provided career transition assistance services, including personalized workshops and individual coaching," said PennWell President and CEO Mark Wilmoth.

PennWell is a media and conference company that provides print and online content for several industries, including oil and gas, renewable energy, and fire and emergency services.

The company publishes more than 130 magazines and newsletters; it also handles conferences and exhibitions for its clients.

All employees being laid off will keep their jobs through August 20th.

The employee News On 6 spoke with says PennWell was the kind of place you thought you'd work for the rest of your life.

The Tulsa Regional Chamber of Commerce said, right now, it is not prepared to talk about the impact the layoffs could have on the economy.