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EXCLUSIVE-Cenovus to cut up to 25% of combined workforce with Husky Energy after deal -companies

Credit: REUTERS/Todd Korol

Cenovus Energy plans to cut 20% to 25% of its workforce after it acquires Husky Energy, the companies told Reuters on Tuesday, as Cenovus begins to slash costs in the Canadian oil patch's biggest merger in four years.

Oct 27 (Reuters) - Cenovus Energy CVE.TO plans to cut 20% to 25% of its workforce after it acquires Husky Energy HSE.TO, the companies told Reuters on Tuesday, as Cenovus begins to slash costs in the Canadian oil patch's biggest merger in four years.

The job losses could total about 2,150 positions, based on the size of their workforces, with the majority to take place in Calgary, Alberta, Cenovus and Husky said in a statement.

Cenovus confirmed the job cuts after two sources told Reuters of the magnitude of the reductions.

(Reporting By David Gaffen)

((david.gaffen@thomsonreuters.com; +1-646-223-6064; Reuters Messaging: david.gaffen.reuters.com@reuters.net))

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