A recent announcement by Husky Energy shows that the company plans to implement $800 million in spending cuts in 2016 with capital spending targeted. In addition the stock dividend for the company will be suspended, at least in part because of the low oil prices currently seen. In December the company announced a capital spending…
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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…
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Husky Energy recently issued 1,000 contractor layoffs as the Sunrise project started the production phase, and many contractors were caught by surprise when they received a layoff notice. All of the contractors involved were througj Saipem, an Italian contracting company. Many expected to continue on the project until summer, and felt they were blindsided by…
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