Nexen Energy has announced more job cuts and the company has laid off another 120 employees as the oil industry in Alberta tries to stay profitable and competitive with lower market prices and an economy that has not yet fully recovered. Nexen is not the only company who is scaling back and letting some employees go. Earlier last year Nexen cut around 400 jobs, 40 of these in Fort McMurray and Wood Buffalo, and then in November of 2015 the company laid off another 60 employees. The latest round of job cuts is just the last issue in a long line of problems that Nexen Energy has faced in the last few years. As the energy giant fights to stay competitive and cope with the current economy and oil market there may be even more job cuts announced in the future.
Nexen Energy spokesperson Brittney Price released a statement about the job cuts and other moves the company has made in the last year or so, stating “Given the current economic reality, we have made the difficult decision to reduce our workforce. These changes impact approximately 120 Canadian employees. We take these decisions seriously, and all impacted employees have been treated fairly and with respect.” An explosion at the hydrocracker at the Long Lake facility operated by Nexen in January has added to the company problems, and two workers were killed because of the explosion. There is still an investigation being conducted about the explosion but the Wood Buffalo RCMP have not found anything suspicious about the accident so far.