⁍ Cenovus Energy Inc plans to cut 20% to 25% of its workforce after it acquires Husky Energy Inc.
⁍ The job losses could total about 2,150 positions, based on the size of their workforces.
– Canada’s Husky Energy and Cenovus Energy have agreed to a merger that will create the country’s third-largest oil company, but it will also result in thousands of job cuts. The two companies say they plan to cut 20% to 25% of their workforce, with most of the job losses occurring in Calgary, Alberta, where Husky’s operations are based, Reuters reports. The companies say they plan to save $1.2 billion by the end of 2015, half of which will come from job cuts.
Source: https://www.reuters.com/article/us-husky-energy-m-a-cenovus-energy-jobs/exclusive-cenovus-to-cut-up-to-25-of-combined-workforce-with-husky-energy-after-deal-companies-idUSKBN27C27W