Petro-Can To Lay Off Execs Amid Q2 Slump

Petro-Can to lay off execs amid Q2 slump

Scott Johnston

More hints of massive lay offs as Petro-Canada and Suncor will become one company after its merger on Saturday.

No specific projections were given today by CEO Ron Brenneman, other than to suggest where redundancies will likely be found. “Finance IT HR those are the corporate departments where you've got fewer jobs than people when you put two companies together. That's where the redundancies tend to occur.”

Brenneman won't speculate on numbers.

The province was notified last week that layoffs are imminent. Employment and Immigration spokesman Terry Jorden says the employment standards code requires notification anytime more than fifty layoffs are projected.

When that happens assistance is offered to the company to help relocate displaced workers. “Even offer job fair situations where we'll match up employers who are looking to hire.”, says Jorden.

Petro-Canada is reporting a 95% slump in earnings for the second quarter because of lower oil and gas prices. (sj, ccg)

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