TransCanada Corp. confirmed to MyMcMurray more job cuts are coming in the wake of falling oil prices as the company works to cope with the current economic environment.
A spokesperson for the company said that environment is, “having a profound impact on our customers and we must do all we can to drive down costs and pursue our projects more efficiently and strategically.”
On Monday, employees were told about organizational changes coming over the next few months that should wrap up by the end of November.
“At this time, our new structure has resulted in a reduction of some senior leadership positions. Moving forward, staffing levels will be further impacted,” said James Millar, the director of communications for TransCanada.
He said the company is introducing changes to make the company more “nimble.”
“This transformational change will allow us to reach the full potential set out in our ambitious growth plan which includes $46 billion of commercially secured projects underway for completion by the end of the decade,” he said.
In June, the company slashed 185 jobs.
It is expected that these new cuts will affect 20 per cent of upper management jobs but the exact number of positions isn’t yet known as some will be cut through retirement and others through elimination.
