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TransCanada announces new layoffs as crude slump persists

Published 2015-11-18, 06:17 p/m
TransCanada announces new layoffs as crude slump persists
TRP
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ENB
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CALGARY, Alberta, Nov 18 (Reuters) - Pipeline company
TransCanada Corp TRP.TO has announced new job cuts, as
slumping oil prices continue to take their toll on its
customers, a spokesman said on Wednesday.
TransCanada and other energy companies based in the oil-rich
Western Canadian province of Alberta have been hammered with
thousands of layoffs in recent months due to the slumping global
prices.
TransCanada, the second largest Canadian pipeline operator
which was recently denied a permit by U.S. President Barack
Obama for its proposed Keystone XL pipeline, had already
announced a series of cuts in recent months affecting more than
200 employees and contractors, including members of senior
management.
TransCanada spokesman Mark Cooper declined to give numbers
about new cuts underway this week, explaining that the company
wanted to wait until all affected employees were informed by
their managers.
Cooper said TransCanada was restructuring to remain
competitive and planned to pursue its projects "more efficiently
and strategically."
Calgary based utility company Enmax also announced it was
cutting about 3 percent of its workforce - 60 employees - on
Wednesday, on top of previous restructuring that had reduced its
senior management by 16 percent.
Canada's largest pipeline operator, Enbridge Inc ENB.TO ,
announced it was cutting about 500 jobs, equivalent to 5 percent
of its workforce, earlier this week. urn:newsml:reuters.com:*:nL1N13C00S

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