Energy

De Beers has begun workforce reduction talks with approximately 5% of employees at the Gahcho Kué diamond mine in the Northwest Territories, affecting around 25 workers out of the mine's 500-person workforce. The layoffs result from the company's decision to pause the Tuzo Phase 3 expansion project due to challenging rough diamond trading conditions and market uncertainty.

New Gold is eliminating approximately 85 jobs at its New Afton mine in Kamloops, British Columbia. “This reduction is part of the project cycle at the New Afton mine and is unrelated to Coeur Mining’s planned [US$7-billion] acquisition,” the Toronto-based gold miner said in a news release.

Drax, a U.K.-based renewable energy company, announced the closure of its wood pellet plant in Williams Lake, B.C., effective by the end of 2025, resulting in 30 job losses. The closure is attributed to the curtailment and closure of nearby sawmills and reduced fibre availability, making operations no longer commercially viable.

Calgary-based Imperial Oil announced plans to eliminate approximately 900 jobs, representing about 20 per cent of its workforce, in the coming years due to persistently low oil prices. The layoffs are part of broader cost-cutting measures across the Canadian oilpatch as companies attempt to stabilize their balance sheets amid a decline in crude oil prices from $70 US to less than $60 per barrel.

The latest workforce reduction at the New Afton mine comes just years after New Gold eliminated 28 roles as part of a “reorganization” in February 2018.

ExxonMobil announced a global restructuring plan that will cut 2,000 jobs worldwide, with some positions being eliminated in Newfoundland and Labrador. The company stated that ExxonMobil Canada will see a reduction of approximately 20 percent of positions by the end of 2027, though the exact number of N.L. job losses was not disclosed.

Imperial Oil announced it will eliminate 20% of its workforce (approximately 900 jobs) by the end of 2027, with most positions based in Calgary, as part of a global restructuring to increase efficiency and reduce annual expenses by $150 million. The remaining Calgary positions will be relocated to the Strathcona Refinery in Edmonton in late 2028, with the company maintaining a small presence in Calgary.