Two oil and gas companies in Alberta have announced major layoffs.
Penn West Petroleum is letting go about 400 full-time employees and contractors. Most of them work at the company’s headquarters in Calgary, representing 35 per cent of its total workforce. Almost all are effective immediately, with the rest gone by the end of the year.
Conoco Philips Canada has also announced it is cutting 400 employees and 100 contractors. Again, most of the losses will be in its Calgary office, with the majority of reductions happening by mid-October. In total, it’s a reducation of about 15 per cent.