Husky Energy lays off staff to align with lower spending plans and strategy

Company had 5,157 permanent employees at end of 2018, according to regulatory filing

Husky Energy logo at the company’s annual meeting in Calgary in 2017. THE CANADIAN PRESS/Jeff McIntosh

Calgary-based Husky Energy Inc. is confirming it is laying off staff, but won’t say how many.

The company controlled by Hong Kong billionaire Li Ka-Shing says the reductions are a result of steps taken to align its workforce with its capital plan and strategy.

In a regulatory filing earlier this year, Husky indicated it had 5,157 permanent employees as of the end of 2018, little changed from the numbers at the end of 2016 and 2017.

Husky, which reports its third-quarter results on Thursday, announced at its investor day last spring that it would slash its average budget by $350 million per year to $3.15 billion over the next five years, accomplishing that in part by cutting costs.

It said it would still grow its production by 100,000 barrels per day by 2023.

READ MORE: Husky Energy to sell Prince George oil refinery to Tidewater

The job cuts are reminiscent of a series of layoffs by Calgary oil and gas producers following an oil price crash in late 2014 that contributed to an estimated 110,000 direct and indirect jobs being lost through 2015 and 2016.

“These changes put Husky in the best position to achieve its goals,” said Husky spokeswoman Kim Guttormson in an email Tuesday.

“This was about changing the way we approach our business, the way we make decisions and the way we work together to meet our goals.”

The Canadian Press

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Two Wetaskiwin locals walk 374 km for Crohn’s and Colitis Canada

Gary Mason and Tracey Paluck walked from the Saskatchewan border all the way to the B.C. border.

Local Restaurant asks City for help with excessive property damage caused by continuous loiterers

Employees say that they are scared for themselves and their customers.

Thorsby RCMP called to plane crash this weekend

Thorsby RCMP located two deceased occupants in the plane.

Wetaskiwin Mayor Tyler Gandam acclaimed to AUMA Board of Directors for Second Term

This will be Mayor Gandam’s second consecutive term.

Central zone down to 16 active COVID-19 cases

Alberta Health Services’ central zone is down to 16

No safe mask option for bearded members, RCMP says, but force is exploring solutions

RCMP says respirator not mandatory in all front-line situations, but sometimes needed to reduce risk

First annual Best of Wetaskiwin Readers’ Choice Awards

Enter to win a $200 gift card for Canadian Tire.

The holiday everyone needs this year: Vote for your favourite in Fat Bear Week 2020

Voters will get to decide who gets to take home this year’s most coveted prize

Canadian ski resorts wrestle with pandemic-vs.-profit dilemma as COVID-19 persists

Few are actually restricting the total number of skiers they allow on the hill

End of CERB means uncertainty for some, new system for others

As of a week ago, the CERB had paid out $79.3 billion to 8.8 million people

No winning ticket for Friday night’s $50 million Lotto Max jackpot

Jackpot for the next draw will grow to approximately $55 million

Wilkinson aims to be B.C. premier after cabinet role, working as doctor and lawyer

The B.C. election is Wilkinson’s first as the Liberal party leader

First Nations police services look to throne speech pledge for higher, stable funding

‘I won’t be happy until I hear two words: royal assent’

Most Read