In November, an explosion at TPC's petrochemical plant in Port Neches, Texas, injured three workers and forced 60,000 people to evacuate.
The explosion happened after a larger vapor cloud ignited at the facility.
According to Reuters, the company will now layoff more than 100 workers as it plans to cease chemical production and rebuild.
The cuts include about 95 hourly employees and 17 salaried workers. Only 45 hourly employees and about 17 salaried workers will stay onboard to operate as a products and services terminal.
The company called the decision "difficult, yet necessary." It will take many years to rebuild the parts of the plant destroyed by the blast, and it could be three to five years before production resumes.