Cenovus Energy to cut up to 25% of combined workforce with Husky after deal: companies

TORONTO/WINNIPEG, Manitoba - Cenovus Energy Inc plans to cut 20% to 25% of its workforce after it acquires Husky Energy Inc, the companies said on Tuesday, as Cenovus begins to slash costs in the Canadian oil patch’s biggest merger in nearly four years.

Cenovus and Husky confirmed the job cuts after two sources told Reuters of the magnitude of the reductions. In the United States, Chevron Corp will lay off about 25% of Noble Energy’s employees who joined the oil major after its $4.1 billion purchase this month, the company said on Tuesday.“As with any merger of this type, there will be overlap and there will be some difficult decisions as we work to create a combined organization best positioned for the future,” Husky spokeswoman Kim Guttormson said.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

In The Energy Sector, Industry Titans And Startups Don’t Have To Be CompetitorsEnergy efficiency as a service, or EEaaS, is a system that’s disrupting the American energy efficiency industry, a sector that not only employs 2.4 million people, but has also been one of the hardest hit by the pandemic. nice That's how it is supposed to be
Source: Forbes - 🏆 394. / 53 Read more »

Energy stocks plummet amid oil sell-off driven by threats of boosted production - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »