“Today Suncor has announced their intention to layoff as much as 15 per cent of their workforce. “It just continues to go on in the sector,” said analyst Phil Skolnick at Eight Capital in New York. Please read our Commenting Policy first. Spending cuts inevitably lead to fewer jobs. Suncor’s oilsands processing plant near Fort McMurray. Job losses struck the oilfield services sector first as oil markets collapsed in April amid a global price war between OPEC and Russia, and as the COVID-19 pandemic undercut energy demand. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. However, the integrated producer has been embarking on a technical transformation, turning to big data, robotics, artificial intelligence and remote sensing technology to lower costs in the oilsands, part of a process Little has called the shift to Suncor 4.0. A rebound in oil demand this summer spurred expectations the situation was getting better. Alberta Oil And Gas Layoffs. Calgary-based Enbridge says it's managed to avoid company-wide layoffs that have hit some other organizations amid the COVID-19 pandemic and oil crisis.


Pipeline giant TC Energy eliminated an unspecified number of jobs in its Canadian gas operations this week, followed by Friday’s grim news Suncor Energy will cut up to 15 per cent of its workforce — almost 2,000 positions across the country — within the next 18 months. In June, BP, which has a smaller workforce in Canada, said it was cutting around 10,000 jobs from its global workforce to cope with the impact of the pandemic. Five per cent would equate to 644 positions and 15 per cent would equal 1,933. Suncor Energy Centre in downtown Calgary on Friday, Oct. 2, 2020. CALGARY -- Want to discuss? Ovintiv lays off staff as fears rise for delayed oil industry recovery. The next issue of Calgary Herald Headline News will soon be in your inbox. Another Alberta oil company is having to make cuts and lay off workers to deal with low oil prices and market volatility. “A few years ago we began to fundamentally change how we work, taking advantage of improved data technology, business processes, all with a view to improve our overall cost structure, accelerate free cash flow and strengthen our competitive position,” said Seetal, referring to what was dubbed the “Suncor 4.0” program. Also this month, local media reported that Nexen, a subsidiary of Chinese state-owned oil giant China National Offshore Oil Corporation Ltd, laid off 100 people in Calgary. In March, Suncor put projects on hold and cut its 2020 capital budget by $1.5 billion to a range between $3.9 billion and $4.5 billion to deal with the lower oil prices. Slain Calgary social worker remembered 1year after her death, 140-year-old bible returned to an Ottawa family, weeks after it was found in Calgary, Alberta Health Services seeking company to deal with its dirty laundry, Parents worry notification lags may lead to unknowing COVID-19 contacts attending school, Jennifer Aniston votes, tells fans it's 'not funny' to vote for Kanye, High-tech Calgary startup pilots a ‘last mile’ autonomous delivery service, U.S. government approves alliance between WestJet and Delta, with conditions, Watch this group of animals peek out from inside pumpkins, British veteran raises money by rowing up and down a canal, 3 friends bring fresh produce to those confined due to virus, COVID-19 immunity may be related to the severity of one's symptoms, study finds, 'Ticking time bomb': Abandoned seafarers stranded without water, food, or money, Ontario reports big drop in new COVID-19 cases after record-breaking days, Armenia, Azerbaijan accuse each other of truce violations, Niagara-area dog has tested positive for COVID-19, Two Toronto byelections test Liberal government's handling of pandemic, CTV News Calgary at Six for Sunday, October 25, 2020, Calgary's COVID-19 field hospital hasn't seen a single patient with the illness, High River, Alta.

Unauthorized distribution, transmission or republication strictly prohibited. “Suncor received over a billion dollars from the UCP’s $4.7-billion corporate handout and they’re not hiring, they’re firing. He urged the federal government to respond in the same way it would if the challenged companies were based in Ontario. With benchmark U.S. oil prices sinking to US$37.05 a barrel on Friday and the S&P/TSX Capped Energy Index dropping 56 per cent this year, it’s not a shock that job losses are now occurring in the Canadian oilpatch. “You are going to see more of this coming in the fall,” said oilpatch veteran Brian Schmidt, CEO of Tamarack Valley Energy. Suncor president and CEO Mark Little at the company’s annual meeting in Calgary on May 2, 2019. It detailed their concerns with the “deeply flawed” direction of the incoming regulations for the new standard, which is designed to lower the carbon intensity of all fossil fuels.
Australia Brasil Canada España France ... More Layoffs In Corporate Calgary; That push has now accelerated, and it means fewer people in the company. Shell plan to cut up to 9,000 jobs could result in hundreds of fewer jobs in Canada. Timeline: Police investigations into alleged illegal casinos and transnational crime networks in Ontario and B.C. The other piece of the puzzle is companies are moving to take some control and cut costs to weather an uncertain future. Enbridge says it gave the option for workers to choose early retirement, severance, education or personal leaves of absence or downgrading to part-time work. “Most oil companies are resigned to the fact that demand is going to hurt for at least until mid-next year.”. “Everybody was holding off on any layoffs because they really didn’t know the outcome of COVID and how that would affect demand. flood mitigation projects, Cenovus buys Husky in $3.8B share transaction, signals consolidation trend in Canadian energy sector. Suncor, which posted a first-quarter loss of $3.5 billion, followed by a $614-million loss in the April-to-June period, has seen its share price tumble 63 per cent this year. It’s about becoming more efficient so they can be more competitive through the cycle,” said Masson. Major layoffs have been rippling through the global oil and gas business for weeks, with big cuts announced at big companies like BP, Chevron Corp., Marathon Petroleum Corp. and Royal Dutch Shell. Concerns about a second wave of COVID-19 loom over the economy, adding greater uncertainty to the mix. Dismal predictions for the fossil fuel, Canadian officials warned staff bound for Cuba to stay silent on ‘Havana syndrome’, Coronavirus vaccine by Oxford-AstraZeneca produces immune response among adults, Energy expert expects more pain in industry before turnaround, Final U.S. presidential debate moves world shares, U.S. stock futures higher, ‘Chances are low’ restaurants in coronavirus red zones will reopen soon, Quebec premier says, Suspects in alleged Markham illegal casino mansion linked to B.C.

“We need to send a message to the whole country that this really is a national economic crisis,” Premier Jason Kenney said Friday. Yet Suncor’s share price has fallen since June. CTVNewsCalgary.ca Senior Digital Producer, The Enbridge logo is shown at the company's annual meeting in Calgary, Alta., Wednesday, May 9, 2018. “I don’t think the Suncor layoffs are a lack of confidence in oil or in Canada, per se. “I don’t think any of us should be surprised if there are additional layoffs from other companies that are hemorrhaging cash right now.”. Kenney said there is a national jobs crisis and economic emergency. WATCH: Premier Jason Kenney said word that Suncor intends to lay off upwards of 15 per cent of its staff is "very disturbing." Read more: © 2020 Calgary Herald, a division of Postmedia Network Inc. All rights reserved. “Jason Kenney made a bad deal,” Alberta Opposition NDP Leader Rachel Notley said. In Canada, 23,600 positions disappeared in the energy industry in the April-to-June period as prices for oil and refined petroleum products plunged with fewer people commuting to work or flying. Suncor employees were told Friday morning that projects would be cancelled and the company would be laying off between 10 and 15 per cent of its workforce over the next year and a half.

“It is hard to overstate the economic adversity that many Albertans are facing.”. The cuts are to be made across the entire organization, Seetal said, and will also affect Suncor’s ranks of contracted workers, although she was unable to give those numbers. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. On Friday, Suncor did just that, joining a steady parade of large oil and gas companies looking to respond by shrinking their workforce. Staff heard that Suncor stock is down and it is underperforming. Suncor president and CEO Mark Little at the company’s annual meeting in Calgary on May 2, 2019.


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