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Ovintiv Cutting Workforce in Calgary, Texas Offices; Field Staff Also Affected
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Ovintiv Inc. (formerly Encana) is making workforce cuts as low prices continue to put pressure on operator's financials, according to multiple reports.
The layoffs will affect workers at both of its offices across North America, which are located in Calgary, Alberta and The Woodlands, Texas. Ovintiv indicated that the reductions will be spread relatively evenly between the two offices.
The cuts will also affect field staff.
Ovintiv executives declined to disclose how many of its workers will be affected by the layoffs.
The company has been preserving its financials by cutting activity and rig counts.
Additionally, in late May 2020, Ovintiv CEO Doug Suttles absorbed the role of company president after Michael McAllister announced his retirement.
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