Enerplus Corp. announced on Monday that the company is laying off roughly 10 % of its 700 staff. This comes as Canada’s oil-patch battles a lengthy decline in crude oil prices.
As was recently reported in the Financial Post, “the approximate 70 job losses are mainly at the company’s head office in Calgary, according to Drew Mair, manager of investor relations, noting that the current economic environment and lower commodity prices has forced the industry to look for operational and cost efficiencies.”
Enerplus’s stock was down about 5 % to $6.30 in a brutal Monday for energy producers.