Print. Husky spokeswoman Colleen McConnell says the layoffs affect non-unionized workers employed by the company's contractor, SNC-Lavalin-Dragados-Pennecon General Partnership or SDP. Mon., Dec. 7, 2020 timer 3 min. Husky Energy, the company behind ... Husky Energy announces layoffs in St. John's. 2020 capital program reduced by $900 million; represents 33% reduction in upstream spending. Husky Energy Cuts 2020 Capital Spending to $1.7 Billion April 20, 2020 Husky Energy to Report First Quarter 2020 Results April 15, 2020 Husky Energy Suspends West White Rose Project March 22, 2020 Husky Energy Reports Results of Series 5 Preferred Share Conversion March 18, 2020 Husky Energy Cuts 2020 Spending By $1 Billion March 12, 2020 “Husky has an obligation to speak to this and they have an obligation to speak to it very quickly,'' King said. Caisse invests $1B in clean energy company Invenergy Approvals in hand for Cenovus buyout of Husky, now expected to close Jan. 1 In world’s top ice wine region, 2020 vintage will be rare find Husky has revised its 2020 capital and production guidance as follows: He said his office contacted Jonathan Brown, Husky’s Atlantic senior vice president, who said he also wasn’t aware until Friday. offshore project, Husky Energy hit by non cash impairment charges, reports $7 billion loss in Q3, Keyera shares fall after it reports 23% rise in delayed pipeline cost to $1.6 billion, Texas oil regulator signals flaring crackdown after backlash, SNC Lavalin shares spike after announcing sale of resources oil and gas business, Defence of Alberta oil or attempt to silence dissent? tweet; Husky Energy confirmed a round of layoffs on Wednesday, but would not divulge how many jobs were cut. The arrangement doesn't guarantee the West White Rose project would be revived, but King said he's still behind the province's decision to support the project. The enterprise is headquartered in Calgary, Alberta. permissions/licensing, please go to: www.TorontoStarReprints.com. The West White Rose project would extend the life of Husky’s White Rose oilfield, about 350 kilometres off the coast of St. John’s. “For those that are working on site, they’re just perplexed. King says the funding is expected to boost the number of tradespeople working at Husky's Marystown, N.L., site on Newfoundland's Burin Peninsula, but he's disappointed that tradesworkers at the Argentia site are continuing to face job losses. A spokesperson at the time said abandoning all operations was a possibility. Twitter. McConnell would not confirm the number of layoffs, and SDP did not respond to a request for comment. Telegram. Share. Toronto Star articles, please go to: www.TorontoStarReprints.com, The Toronto Star and thestar.com, each property of Toronto Star Husky Energy announced in October that construction on its massive concrete offshore oil platform was suspended until at least 2022 as the company reconsidered its future in the province. SHARE. The list of Canadian oil companies cutting spending in the wake of plunging crude prices continued to grow Thursday, with Husky Energy announcing a $1-billion reduction in its 2020 spending. Cenovus to buy Husky Energy for $3.8B in shares; company will remain in Alberta – Oct 25, 2020 Read more: Husky asks for government investment while reviewing West White Rose project VK. Husky Energy, the company behind ... Husky Energy announces layoffs in St. John's. Husky Energy confirms 370 job cuts as it trims 2020 21 spending by $500 million Cleanup of oil spill in Saskatchewan cost $107 million, Husky Energy says Tidewater shares fall on deal to buy Prince George, B.C., refinery from Husky Linkedin. Layoff news has plagued the site since the onset of the COVID-19 pandemic, but Friday's news came just a day after a big press conference to announce the $41.5 million aimed at maintaining jobs at the two West White Rose worksites. Please see our Husky Energy confirms layoffs as House continues to discuss Come by Chance refinery. Husky spokeswoman Colleen McConnell says the layoffs affect non-unionized workers employed by the company’s contractor, SNC-Lavalin-Dragados-Pennecon General Partnership or SDP. He said his office contacted Jonathan Brown, Husky's Atlantic senior vice president, who said he also wasn't aware until Friday. The Suncor Energy Centre in Calgary. Tumblr. Published: Oct 07, 2020 at 7:50 p.m. However, he would like to know exactly how the public portion of the money will be spent, and he's written a letter to Husky asking for details. Together, the companies currently have 8,600 employees and contractors, which means between 1,720 and 2,150 layoffs are planned. Husky Energy says 75 layoffs in Argentia affect non-unionized workers as the oil and gas project remains in limbo due to the uncertainty created by the COVID-19 pandemic and the drop in … The arrangement doesn’t guarantee the West White Rose project would be revived, but King said he’s still behind the province’s decision to support the project. He sent the letter to Furey and Energy Minister Andrew Parsons as well. Husky Energy made some difficult decisions and have had to say goodbye to some of our colleagues today. Husky’s shares are publicly traded on the Toronto Stock Exchange under the symbol HSE. Husky says average upstream production is expected to be in the range of 295,000 to 310,000 barrels of oil equivalent per day for 2020, up about four … Viber. Click here This news release contains references to the non-GAAP financial measure “debt to capital”. They can't understand how we could have such a huge announcement one day and literally 15, 16 hours later find out there's job losses when the announcement was intended to protect jobs,'' King said in an interview. ST. JOHN’S, N.L. They can’t understand how we could have such a huge announcement one day and literally 15, 16 hours later find out there’s job losses when the announcement was intended to protect jobs,” King said in an interview. “As with any merger of this type, there will … To order copies of WhatsApp. “Husky’s original plan, without government investment, would have resulted in the suspension of all construction activities and put both the Argentia and Marystown sites in preservation and maintenance mode,” he said. Layoffs at Husky worksite announced after company gets $41.5 million in public cash. On Oct. 2, Suncor announced a plan to cut up to 2,000 jobs over the next 18 months. 2020 Capital Program Reduced by $900 Million; Further Cost Reductions of $100 Million . On Friday, the provincial government Every year, I speak to the MBA students at the University of Calgary and among the many questions they have,…, Three decades ago, the U.S. passed an infinitesimal milestone: solar and wind power generated one-tenth of one percent of the…. CALGARY — A surprise move by Cenovus Energy Inc. to buy rival Husky Energy Inc. for $3.8 billion in shares will create the third-largest Canadian oil and natural gas producer by total production, the companies announced Sunday. A spokesperson at the time said abandoning all operations was a possibility. Hundreds of workers at Husky Energy Inc. are believed to be affected by a round of layoffs at the Canadian energy giant, according to employees at the company. “Husky's original plan, without government investment, would have resulted in the suspension of all construction activities and put both the Argentia and Marystown sites in preservation and maintenance mode,'' he said. $100 million in additional cost-saving measures. He sent the letter to Furey and Energy Minister Andrew Parsons as well. Parsons said the 331 positions supported by the government funding include trades positions largely located at the Marystown site. McConnell would not confirm the number of layoffs, and SDP did not respond to a request for comment. In an emailed statement, Parsons said he was not aware of the layoffs until Friday. Cenovus Energy To See Major Layoffs After Merger With Husky ... plans to cut 20 per cent to 25 per cent of its workforce after it acquires Husky Energy Inc., ... Guide To Buying Local For 2020. The Canadian Press December 8, 2020 ST. JOHN’S, N.L. Oct 7, 2020 3:15 PM. October 7, 2020 Top Stories. ReddIt. Husky Energy announced in October that construction on its massive concrete offshore oil platform was suspended until at least 2022 as the company reconsidered its future in the province. 52. to colleagues, clients or customers, or inquire about Newspapers Limited, One Yonge Street, 4th floor, Toronto, ON, M5E 1E6. Terms & Policies, Five tips to keep up with the fast-moving ESG field, Solar and wind are reaching for the last 90% of the U.S. power market, Global Upstream M&A Deals Reach $93 Billion in 2020, Husky Energy to get $41.5 million in federal cash for stalled N.L. Star Newspapers Limited and/or its licensors. 0. During last week's funding announcement for the company, Premier Andrew Furey said Husky was matching the public money with its own $41.5 million investment. Husky Energy Cuts 2020 Spending By $1 Billion. Meanwhile, there were more questions in the House of Assembly about the future of the Come by Chance oil refinery. presentation-ready copies of Toronto Star content for distribution Digg. However, he would like to know exactly how the public portion of the money will be spent, and he’s written a letter to Husky asking for details. Husky says it will not be sharing the number of jobs affected, but unconfirmed reports to VOCM News indicate it may be in the dozens. We manage our workforce in accordance with our business plan and activities. This report by The Canadian Press was first published Dec. 7, 2020. The West White Rose project would extend the life of Husky’s White Rose oilfield, about 350 kilometres off the coast of St. John’s. During last week’s funding announcement for the company, Premier Andrew Furey said Husky was matching the public money with its own $41.5 million investment. to learn more. Husky Energy says 75 layoffs in Argentia affect non-unionized workers as the oil and gas project remains in limbo due to the uncertainty created by the COVID-19 pandemic and the drop in oil and gas prices. All Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. The Lead Another 2,150 workers will be laid off following Cenovus Energy Inc.’s acquisition of Husky Energy Inc. Cenovus plans to slash up to 25 per cent of its staff, most of them in Calgary, the company confirmed yesterday. Email. LINE. To order ST. JOHN'S, N.L. King says he found out Friday that 15 trade workers and 60 project management staff would be laid off from the site in Argentia where the bulk of Husky's massive concrete gravity base offshore oilplatform is being built. King says he found out Friday that 15 trade workers and 60 project management staff would be laid off from the site in Argentia where the bulk of Husky’s massive concrete gravity base offshore oil platform is being built. “People are not happy, and people have a right to know where their taxpayer money is going.''. Husky Energy says 75 layoffs in Argentia affect non-unionized workers as the oil and gas project remains in limbo due to the uncertainty created by the COVID-19 pandemic and the drop in oil and gas prices. A A. ST. JOHN'S, N.L. Sources told BNN Bloomberg’s Tara Weber the layoffs are mostly focused on western Canadian staff, with the majority of cuts happening in Calgary. On Friday, the provincial government NTV News - October 7, 2020. rights reserved. In an emailed statement, Parsons said he was not aware of the layoffs until Friday. — Husky Energy says 75 layoffs in Argentia affect non-unionized workers as the oil and gas project remains in limbo due to the uncertainty created by the COVID-19 pandemic and the drop in oil and gas prices. Sabir questioned why Kenney didn’t ensure Husky would use the money they were given to create jobs. Privacy & Cookie Usage Policy Member only content. New course charts ESG fundamentals for oilfield services companies. “People are not happy, and people have a right to know where their taxpayer money is going.”. The CEO of Calgary-based Husky Energy Inc. says social media speculation that layoffs put in place the morning after the federal election this week were in reaction to political events are just "B.S.". The head of a Newfoundland and Labrador labour organization says there were hopes a few dozen tradespeople might be rehired at Husky's West White Rose worksite in Argentia, N.L., after last week's announcement of $41.5 million in federal funding for the project. Updated: Oct 08, 2020 at 10:07 a.m. Industry, Energy and Technology Minister Andrew Parsons. expressly prohibited without the prior written consent of Toronto Suncor announces 100 layoffs and layoffs at Husky Energy. Mix. King says the funding is expected to boost the number of tradespeople working at Husky’s Marystown, N.L., site on Newfoundland’s Burin Peninsula, but he’s disappointed that tradesworkers at the Argentia site are continuing to face job losses. - David Maher/The Telegram . Layoffs at Husky worksite announced after company gets $41.5 million in public cash. "These changes put Husky … If you have ideas for how we can improve our services, we’d love to hear from you. Pinterest. The West White Rose project would extend the life of Husky's White Rose oilfield, about 350 kilometres off the coast of St. John's. © Glacier RIG Ltd., all rights reserved. “For those that are working on site, they're just perplexed. Facebook. Instead, TradesNL director Darin King says he’s flabbergasted to hear of more layoffs that will leave just 10 skilled tradespeople at a site that once employed 2,700. David Maher ([email protected]) Published: Oct 07, 2020 at 7:50 p.m. On Friday, the provincial government announced $41.5 million in funding for the company, matched dollar for dollar by Husky Energy, to Energy Minister Andrew Parsons says news of 75 layoffs linked to the West White Rose project a day after Husky Energy got $41.5-millionto keep 330 others employed was a terrible case of bad timing.. Parsons says he only found out about the layoffs 24 hours after making the big Husky announcement, adding even senior Husky officials weren’t aware that the contractor at Argentia was … Sign up for the February 18, 2021 course. Parsons said the 331 positions supported by the government funding include trades positions largely located at the Marystown site. Suncor announces 100 layoffs, and jobs also cut at Husky Energy As of Nov. 1, about 100 contractors working on the Terra Nova FPSO will be laid off, Suncor Energy confirmed Thursday. Please refer to “Non-GAAP Measures” at the end of this news release. to email us. Judge to hear inquiry challenge. By. Oil & Gas The company focuses on large operations in Western and Atlantic Canada, the United States and the Asia Pacific region. Husky Energy has confirmed layoffs in this province effective today. The head of a Newfoundland and Labrador labour organization says there were hopes a few dozen tradespeople might be rehired at Husky's West White Rose worksite in Argentia, N.L., after last week's announcement of $41.5 million in federal funding for the project. This copy is for your personal non-commercial use only. Republication or distribution of this content is read. Instead, TradesNL director Darin King says he's flabbergasted to hear of more layoffs that will leave just 10 skilled tradespeople at a site that once employed 2,700. In addition to layoffs at Cenovus and Husky, other major energy players including Suncor and TC Energy Corp. have announced staff reductions in recent weeks, which will further inflate the province’s unemployment rate. Layoff news has plagued the site since the onset of the COVID-19 pandemic, but Friday’s news came just a day after a big press conference to announce the $41.5 million aimed at maintaining jobs at the two West White Rose worksites. Husky Energy announced in October that construction on its massive concrete offshore oil platform was suspended until at least 2022 as the company reconsidered its future in the province. Layoffs resulting from Cenovus Energy’s $3.8-billion takeover of Husky Energy in October 2020 are imminent. "Husky has been taking steps to better align the organization and workforce with our capital plan and strategy," read the statement. ... June 17, 2020 1:14PM MDT Last Updated Wednesday, June 17, ... Cenovus Energy (BBB), Husky Energy (BBB) and … Service & Supply. Another blow for the local oil and gas sector. By continuing to browse you agree to our use of cookies.
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