By Canadian Press

10 to 15 per cent

Suncor to cut nearly 2,000 jobs amid low oil prices

Oct 2, 2020 | 11:45 AM

CALGARY – Oil and gas giant Suncor Energy Ltd. says it will eliminate as many as 1,930 jobs over the next 18 months as a result of cost-cutting to deal with low oil prices and market volatility.

Spokeswoman Sneh Seetal says CEO Mark Little told employees on a conference call Friday morning the company will aim to reduce total staff by 10 to 15 per cent over the next 18 months, starting with a five per cent cut over the next six months.

The Calgary-based company had 12,889 staff at the end of 2019. Five per cent would equate to 644 positions and 15 per cent would equal 1,933.

Seetal says the cuts will be made across the entire organization and will also affect Suncor’s ranks of contracted workers, although she was unable to give those numbers.

On that news, Alberta Premier Jason Kenney says the layoffs at Suncor adds to the largest economic crisis in the province since the Great Depression.

Meaningful Mementos

Remembering Someone You've Lost at Christmas

Dec 03, 2024

Seasonal Sorrow

How Do You Get Through The Holidays When You're Grieving?

Nov 01, 2024

Upcoming Events at Oliver's

Grief & Loss and Estate Planning Seminars

Oct 02, 2024

Kenney says the federal government should pause environmental plans that would increase costs for the oilpatch.

He wants the federal Liberals to delay implementing its clean fuel standard, pull back on environmental assessments and not ratify a UN resolution on Indigenous rights.

He says it wouldn’t be surprising if more big energy companies announce cuts.

Kenney says if that many job cuts were announced in Ontario and Quebec, Ottawa would be — quote — “moving heaven and Earth to help.”

He calls the blows suffered by the province’s oilpatch a national economic crisis.

In March, Suncor put projects on hold and cut its 2020 capital budget by $1.5 billion to a range between $3.9 billion and $4.5 billion to deal with lower oil prices from a glut of oil in the market and the impact of the COVID-19 pandemic.

At the time, a spokeswoman said the cutbacks would result in fewer jobs for contract workers and could “potentially” hit employees as well.