Chevron slashes Canadian workforce

Job cuts: At Chevron Canada

Chevron Canada has said it is making additional cuts to its workforce to help reduce costs as low commodity prices continue to weigh on the oil and gas industry.

The company confirmed the reductions after a number of anonymous posts appeared in an online bulletin on Reddit from alleged company employees over the past few days.

According to posts dating back to 16 February, the workers were preparing for another round of cuts and wishing, "Good luck to everyone."

The company would not discuss the details of layoffs but spokesman Leis Sollid confirmed the action in an e-mail.

"In light of the current market environment, Chevron continues to take action to reduce internal costs across the enterprise. Chevron Canada can confirm that it has taken a decision to reduce its employee and contractor workforce during 2016," he wrote.

According to the Reddit post, "layoffs and repatriation of US and international expats are happening at all levels, including leadership" and staff was told 30% of employees and 70% of in-house contractors -- about 250 people altogether -- will be cut.

Other reports said the mix was about 20% employees and 40% contractors.

Last year, the company announced plans to restructure its organisation.

In 2015 Chevron reduced its workforce primarily at its Canadian-based headquarters by 130 positions, said Sollid.

Altogether, it is estimated about 100,000 oil workers have lost their jobs over the past 20 months from the onset of commodity price declines to its current level decade lows. Both major and intermediate producers with head offices in Alberta have all reported significant workforce reductions.

The only companies of note that have not announced layoffs are Imperial Oil and Canadian Natural Resources, which have opted instead for alternatives including salary freezes, dividend cuts or reductions, and reduced employee hours.

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