Cenovus to cut up to 25% of workforce following Husky takeover
CALGARY, AB. – Cenovus Energy Inc. is aiming to cut as many as one in four jobs potentially more than 2,000 workers if it succeeds in its $3.8-billion friendly takeover of rival Husky Energy Inc.
The oilsands producer plans to trim between 20 and 25 per cent of the 8,600 employees and contractors currently working at the two companies, said Cenovus spokesman Reg Curren in an email on Tuesday, two days after the takeover was announced.
That would equate to between 1,720 and 2,150 workers. Curren said most of the cuts are expected to take place in Calgary, where both companies have downtown headquarters.
“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,” he said.
