Despite pledging to keep all Nexen employees and senior management, the Chinese company CNOOC is restructuring the oil company, according to the Financial Post.
It says the new CEO, Fang Zhi, hasn’t even arrived in Canada yet because he doesn’t have a visa and work permit.
He was named to replace Canadian Kevin Reinhart back in April.
The paper’s sources said people have already been let go in Calgary, with the company aiming to cut costs by up to 21 percent.
