TORONTO/WINNIPEG, Manitoba - Cenovus Energy Inc plans to cut 20% to 25% of its workforce after it acquires Husky Energy Inc, the companies said on Tuesday, as Cenovus begins to slash costs in the Canadian oil patch’s biggest merger in nearly four years.
Cenovus and Husky confirmed the job cuts after two sources told Reuters of the magnitude of the reductions. In the United States, Chevron Corp will lay off about 25% of Noble Energy’s employees who joined the oil major after its $4.1 billion purchase this month, the company said on Tuesday.“As with any merger of this type, there will be overlap and there will be some difficult decisions as we work to create a combined organization best positioned for the future,” Husky spokeswoman Kim Guttormson said.
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