Prickly Curmudgeon Smiter
- Jun 28, 2010
Canada’s Oil And Gas Sector Sees Record Job Losses
A total of 37 percent of oil and gas companies in Canada resorted to permanent layoffs due to the pandemic-driven oil price and oil demand slump.
Apart from permanent layoffs, other measures included a hiring freeze for 35 percent of companies, a reduction in executive pay for 29 percent, a reduction in worker pay for 28 percent of firms, temporary layoffs implemented in 27 percent of companies, and a reduction in hours for 21 percent of energy companies.
The pandemic-driven oil demand crash has forced Canadian oil and gas firms to lay off as much as 37 percent of their workers