Talisman Energy Inc, Nexen Energy ULC fire hundreds of employees in ‘Bloody Tuesday’
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Claudia Cattaneo and Geoffrey Morgan | March 17, 2015 | Last Updated: Mar 17 6:30 PM ET
CCNMATTHEWS PHOTO/Talisman Energy IncNo one knows for sure whether oil prices have hit a bottom, but the smart money isn’t taking any chances
CALGARY – St. Patrick’s Day turned into “bloody Tuesday” in Calgary as major companies Talisman Energy Inc. and Nexen Energy ULC — both recently acquired by foreign operators — axed hundreds of employees, adding to the surge of energy sector jobs cut as a result of low oil prices.
Talisman, the international oil and gas producer that has been purchased by Spain’s Repsol SA, said 10% to 15% of its employees and contractors would be laid off this week, or about 150 to 200 of 1,300 Calgary head-office jobs that support its global operations.
“It’s a tough week, it’s a tough time for the industry, and the reality is that no oil and gas company is immune to low commodity prices,” said Brent Anderson, spokesman for Talisman.
Nexen, a subsidiary of China’s CNOOC Ltd., also announced 400 job cuts – 300 of them in Calgary. The job losses represent 14.5% of the company’s total Canadian head count.
More: Talisman Energy Inc, Nexen Energy ULC fire hundreds of employees in ‘Bloody Tuesday’ | Financial Post
Republish Reprint
Claudia Cattaneo and Geoffrey Morgan | March 17, 2015 | Last Updated: Mar 17 6:30 PM ET
CALGARY – St. Patrick’s Day turned into “bloody Tuesday” in Calgary as major companies Talisman Energy Inc. and Nexen Energy ULC — both recently acquired by foreign operators — axed hundreds of employees, adding to the surge of energy sector jobs cut as a result of low oil prices.
Talisman, the international oil and gas producer that has been purchased by Spain’s Repsol SA, said 10% to 15% of its employees and contractors would be laid off this week, or about 150 to 200 of 1,300 Calgary head-office jobs that support its global operations.
“It’s a tough week, it’s a tough time for the industry, and the reality is that no oil and gas company is immune to low commodity prices,” said Brent Anderson, spokesman for Talisman.
Nexen, a subsidiary of China’s CNOOC Ltd., also announced 400 job cuts – 300 of them in Calgary. The job losses represent 14.5% of the company’s total Canadian head count.
More: Talisman Energy Inc, Nexen Energy ULC fire hundreds of employees in ‘Bloody Tuesday’ | Financial Post