TransCanada Will Cut 20 percent Of Senior Management Jobs

TransCanada Corp. is cutting 20 per cent of its senior leadership positions, and the pipeline firm says there will be more job losses to come because of low world oil prices and the “current environment.”

“As we signalled in June, TransCanada is introducing changes to our structure to ensure we remain competitive and deliver shareholder value as we continue to grow and build new energy infrastructure in a safe and responsible manner,” TransCanada spokesman James Millar told the Globe and Mail.

“Falling oil prices and the current environment are having a profound impact on our customers and we must do all we can to drive down costs and pursue our projects more efficiently and strategically.”

Workers were told of the job cuts Monday, and they’ll be implemented in the coming months, the company said.

TransCanada’s first round of recent layoffs came in June, with 185 employees cut. The company said it was not related to any particular project.

But the application to build the Canada-to-Texas pipeline has been lingering for seven years as the Obama administration considers whether to approve it.

Democratic presidential front-runner Hillary Clinton announced Tuesday that she opposes building the project.

Agencies/Canadajournal