Energy

De Beers confirmed layoffs affecting approximately 5% of employees at the Gahcho Kué diamond mine in the Northwest Territories. The workforce reduction was announced in February 2026 due to weak market conditions and a decision to pause expansion plans at the mine.

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.

Burgundy Diamond Mines laid off several hundred workers, including 119 union members, at the Ekati diamond mine in N.W.T. after shutting down operations at the Point Lake development, which became sub-economic with current diamond prices. The company plans to restart Point Lake in mid-2026 and has released a life-of-mine plan extending operations until 2040, with laid-off workers eligible to reclaim their positions if reinstated within a year.

Burgundy Diamond Mines announced the suspension of open pit operations at Ekati Diamond Mine in the Northwest Territories, laying off several hundred employees and contractors, with the Union of Northern Workers confirming approximately 160 of its members were affected. The company continues mining at the Misery underground site while the layoffs are attributed to weak diamond market conditions, reduced demand in China, and competition from lab-grown diamonds.

Canadian EV charger company Flo is closing its Quebec plant and laying off 80 employees across Canada and the U.S. The company cited operational restructuring as the reason for the closure.

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.

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.

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.

More than 300 workers were laid off from the Ekati diamond mine in Canada's Northwest Territories in July 2025 as owner Burgundy halted open-pit operations due to global demand slump and US tariffs. The company has also delayed severance payments to affected workers due to financial constraints and cash flow problems.

Burgundy Diamond Mines laid off approximately 200 unionized workers at its Ekati diamond mine in the Northwest Territories since spring 2025, with 168 workers dismissed in April alone. The N.W.T. government, Indigenous leaders, and worker unions are coordinating support for affected employees while the company awaits federal tariff relief funding and completes its closure and reclamation plan.