Suncor Energy has announced plans to eliminate up to 15 per cent of its approximately 13,000-person work force.
The Calgary-based company confirmed Friday it will reduce its work force by 5 per cent in the next six months, and by between 10 and 15 per cent over the course of the next year and a half. Spokeswoman Sneh Seetal said employees were informed of the restructuring Friday morning via a conference call with company CEO Mark Little.
The company said it is making the move due to the continued impact of the COVID-19 pandemic, the unprecedented drop in oil prices, and the continued global economic slowdown and market volatility. The staff reductions will be accomplished through a combination of voluntary buyouts, early retirements, and layoffs.
Oil and gas producers have slashed billions of dollars from their capital budgets since the start of the COVID-19 crisis and the global oil price crash.
Royal Dutch Shell said Wednesday it would lay off up to 9,000 people worldwide as it deals with the fallout of the COVID-19 pandemic and begins restructuring to hit its goal of net zero emissions by 2050.
British energy giant BP announced in June that it would cut around 10,000 jobs, also as part of its net zero emissions plan.
More to come.