Calgary-based oil company Cenovus Energy Inc. (CVE) will be cutting 440 jobs in 2016 in response to energy price volatility, reports The Calgary Herald. This follows layoffs of 1,500 employees last year, and will amount to an overall reduction of 31 per cent of the company’s headcount since late 2014.
Cenovus has been hit hard by continued low oil prices, reporting losses of $641 million in the last quarter of 2015
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