TransCanada, Encana both announce job cuts


mentalfloss
#1
TransCanada, Encana both announce job cuts - The Globe and Mail
Home - The Globe and Mail

Pipeline company TransCanada Corp. and oil and gas producer Encana Corp. both said on Tuesday they were cutting jobs, joining other Canadian energy firms that have laid off staff since global oil prices slumped.

TransCanada, the backer of the controversial Keystone XL pipeline project, said it cut 185 jobs following a restructuring to lower costs for customers affected by weak oil and natural gas prices.

BNN Video Jun. 23 2015, 4:09 PM EDT

The country’s No. 2 pipeline operator said 100 full-time jobs were eliminated, while the rest were contract jobs. The Calgary-based company has about 6,000 employees.

“These positions were removed following a restructuring of the Major Projects department,” TransCanada said in a statement.

The department oversees development of its largest projects, including Keystone XL and its $12-billion Energy East line, which will take Alberta crude to Eastern Canadian refineries and an Atlantic export port.

Canadian oil and gas producers have slashed thousands of jobs as weak prices hurt profits and cash flows. TransCanada’s job cuts are its first after oil prices fell by nearly half over the past year, and are intended to keep costs low in order to maintain volumes on its lines, it said.

Encana also said it was expecting some staff reductions, but attributed the cuts to changes to its organizational structure rather than low oil prices.

Spokesman Jay Averill declined to estimate how many jobs would be affected, but said it will be “nothing near” the scale of the layoffs that followed a restructuring carried out by the company at the end of 2013.

During that period, Encana reduced its staff by about 25 per cent, and shifted its portfolio away from natural gas to focus more on oil.

“We’re adjusting our organization to align with the well-documented and dramatic change we’ve experienced over the past year and a half and would likely be making these changes regardless of the commodity price,” Averill added.

TransCanada, Encana both announce job cuts - The Globe and Mail
 
personal touch
Bloc Québécois
#2
rearrangement is important in this world economy.
 
Tecumsehsbones
#3
Yay, unemployed Canadians!
 
personal touch
Bloc Québécois
#4
me and my loved ones,friends,etc never have to worry about going hungry,unemployement is not a big deal in a modern world. the young ones have no fear of unemployment unless they are born to think unemployment is a "bad thing".
just go fishing.
 
mentalfloss
#5
I think most people would believe unemployment is a 'bad thing'.

Even the ones on welfare.
 
Walter
#6
Analfloss always rejoices when he sees Canadians losing their jobs. He never posts when hiring is taking place.
 
mentalfloss
+1
#7  Top Rated Post
That's because hiring at Walmart is nothing to celebrate.
 
personal touch
Bloc Québécois
#8
Quote: Originally Posted by mentalfloss View Post

That's because hiring at Walmart is nothing to celebrate.

it all started with made in china exchanges many years ago.
 

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