In addition to the job cuts that have taken place at Husky Energy the company has announced that it is also considering the sale of assets in order to stay competitive and cut costs as much as possible. When the company posted the third quarter financial information the business had a loss, and so far 1,400 people have been laid off. 280 of these individuals were full time employees of Husky Energy, and roughly 1,120 of the positions eliminated involved contractors. The company also announced that additional cuts will be made and further layoffs will be coming. This is in addition to a salary freeze over the entire company workforce. A report released by Husky Energy included the statement that “Additional workforce adjustments will be undertaken as required in line with the business plan.”

Cutting jobs is not the only priority for Husky Energy right now. In addition to large job cuts the company is also thinking about selling off third party royalty interest that it currently holds, and the sale of assets that involve properties that have natural gas and oil potential. The report released by the company explains that “This would allow for a more focused capital program with a much larger proportion of capital deployed to higher return assets in a low oil price environment. Accelerating the rejuvenation of the Western Canada business with these initiatives will improve its resiliency through the various commodity cycles.” A $101 million dollar loss was posted by Husky Energy for their third quarter this year.