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Panic sets in: Shell Canada job cuts

Screen Shot 2015-01-06 at 21.26.38From Business News Network: 9 Jan 2015

BNN Exclusive: Shell Canada lays off oil sands workers

In the face of collapsing crude prices, Shell Canada confirms to BNN it will reduce its oil sands workforce. The company says less than 10 percent of its total oil sands headcount will be impacted, which currently stands at roughly 3,000. Western Canadian Select, the country’s heavy oil benchmark, fell to $33.23 a barrel on Jan. 6, the lowest level in six years according to Bloomberg News.

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Shell’s Canadian Oil-Sands Operations to Cut Jobs: Dow Jones Newswires

CALGARY-Royal Dutch Shell PLC said Friday it plans to cut jobs at its Canadian oil-sands operations, becoming the first major energy company to shed workers in Canada’s oil patch amid a recent swoon in global crude oil prices.

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Read more: http://www.nasdaq.com/article/shells-canadian-oilsands-operations-to-cut-jobs-20150109-00541#ixzz3OMNywc7r

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