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Husky Energy lays off workers as energy sector struggles

October 22, 2019 12:08 PM
Reuters

Canadian oil and gas producer Husky Energy Inc laid off a number of employees on Tuesday, a company spokeswoman said, the latest sign of how Canada’s energy sector is struggling with declining capital investment and sluggish growth.

Calgary, Alberta-based Husky declined to say how many jobs were affected by the cuts.

“Husky has been taking steps to better align the organization and workforce with our capital plan and strategy,” spokeswoman Kim Guttormson said in a statement.

The layoffs come a day after Canada’s federal election, in which Liberal Prime Minister Justin Trudeau failed to secure an outright majority of seats, leaving him in need of support from left-leaning parties that are opposed to new oil pipelines.

That was the worst-case scenario for the energy sector, which fears the result could further delay the Trans Mountain pipeline expansion and deter investment in the oil and gas industry.

The company reports its quarterly results on Thursday

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