Encana’s CEO, Doug Suttles said in a BNN interview that they have ‘no plans’ of cutting more jobs at the company. This despite the company saying some of its key expenses will be US$100 million less than the previous estimate and savings will be continued into 2017.
Encana had a US$601 million loss in the second quarter but says the latter part of 2016 is shaping up better than expected.
EThe company expects to get US$1.1 billion of proceeds from two asset sales that will close by the end of July.
Watch the interview with President and CEO, Doug Suttles below: