Tulsa-based convenience store chain QuikTrip, which is 51 year old, has managed to never cut its work force despite operating 533 stores and employing the 11,000 people.

QuikTrip also ranked 27th on Fortune’s Best Places to Work list, which was published in January.

“This 24-hour convenience store chain is privately held, allowing it to pour profits back into stores instead of divvying them up among shareholders,” the feature story said. “Meanwhile, its strong balance sheet has helped it to weather economic downturns without having to cut staff.”

QuikTrip spokesman Mike Thornbrugh agreed that the flexibility of not being publicly owned has allowed the company to expand carefully and avoid the pressures to cut costs dramatically to meet revenue reports.

Oklahoma City-based Devon Energy, with about $11.3 billion annual revenue, also placed on the list as never laying off any of its 1,400 employees.

Seven other national companies were also mentioned, such as supplemental insurance firm Aflac and Publix Super Markets.

The list is based on the magazine’s “Best Places to Work” survey.