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Cenovus-Husky merger layoffs to begin ‘this year’: spokesperson

Click to play video: 'Cenovus set to cut up to 25% of its workforce' Cenovus set to cut up to 25% of its workforce
WATCH ABOVE: Alberta's economy is about to take another blow as Cenovus prepares to slash its workforce. As Tom Vernon explains, it's a result of the company's merger with Husky late last year. – Jan 26, 2021

Layoffs resulting from Cenovus Energy’s $3.8-billion takeover of Husky Energy in October 2020 are imminent.

In a statement to Global News, Cenovus senior media advisor Reg Curren said the merger would result in “workforce reductions taking place over the course of this year.”

Referring to the friendly takeover, “the combination means there will be overlap and redundancies in a number of roles across our business,” Curren wrote.

Read more: Calgary’s downtown office vacancy rates hit record levels amid oilpatch woes

In October, Curren said between 20 and 25 per cent of the Cenovus and Husky workforce of 8,600 would lose their jobs, most being in Calgary. That would result in between 1,720 and 2,150 workers.

Curren told the Canadian Press that Brookfield Place will be Cenovus’ new consolidated headquarters, with a move-in plan to come following eased COVID-19 restrictions. Husky’s head office is the nearby Western Canadian Place.

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In December 2020, Cenovus announced it had all key regulatory approvals in place to close the all-shares takeover.

–with files from the Canadian Press

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