It is mandatory to procure user consent prior to running these cookies on your website. Comments are welcome while open. Oil and gas producer Ovintiv, formerly known as Encana, says it has slashed its workforce by 25 per cent as it prepares for more modest growth in the energy sector. Ovintiv lays off 25 per cent of staff as fears rise for delayed oil industry recovery. Newspapers Limited, One Yonge Street, 4th floor, Toronto, ON, M5E 1E6. Details about where the reductions have been made were not immediately available.
Oil and gas producer Ovintiv — formerly known as Encana — slashes workforce by 25%, CBC's Journalistic Standards and Practices. But he said he does expect a recovery, pointing out that even at the height of the lockdowns and transportation bans, the world was still consuming over two-thirds of the 100 million barrels per day it needed before the outbreak. In February, 2019, Encana announced it had cut its total workforce by 15 per cent and reduced its ranks of executives by 35 per cent. Ovintiv Inc. has cut its work force by a quarter to cope with what it sees as a new era of lower production growth in the midst of the COVID-19 ... which eliminated the need for companywide layoffs. “Both 2019 and 2020 may be poor predictors of where we end up in 2021 and even 2022.” he said. Spokesperson Tracie Kenyon, said in an e-mail redemptions average Enbridge not to prosecute the company-wide layoffs at this time. It is a priority for CBC to create a website that is accessible to all Canadians including people with visual, hearing, motor and cognitive challenges. “We think by 2022 there will be balance in the market, not only supply-demand, but this large overhang of inventory that was built up with the collapse in demand and oversupply, that will be drained by that time,” he said.
“We feel like the industry and Ovintiv is transitioning to lower production growth levels.
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