Jobs, spending cut by oil firms

Jobs, spending cut by oil firms

Jobs, spending cut by oil firms Cenovus Energy announced job losses in the oilsands Thursday. The company said that in addition to 800 job cuts earlier this year there were now another 400 identified as “no longer required” and which will save $100 million a year. Earlier Royal Dutch Shell confirmed that 700 jobs have been cut from its Canadian workforce in total this year; no further cuts are expected from the 6,500 announced globally Thursday. Suncorp Energy meanwhile said that it is cutting its spending by an additional $400 million.