Job-cutting axe in full swing - February 28, 1999

Providing coverage of Alaska and northern Canada's oil and gas industryFebruary 1999

Vol. 4, No. 2

Week of February 28, 1999

Job-cutting axe in full swing

Gary Park

A tidal wave of oil-price triggered layoffs is washing over the Canadian petroleum industry, with reductions generally ranging from 10 percent to 15 percent — the highest levels since a massive downsizing in the mid-1980s. Major companies to announce cuts so far are: Amoco Canada Petroleum Co. Ltd., 275 of 2,200 employees; Canadian Occidental Petroleum Ltd., 112 of 1,400; Gulf Canada Resources Ltd., 200 of 1,200; Chevron Canada Resources Ltd., 80 of 760; and Union Pacific Resources Ltd., 54 of 300.

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