CA - TC Energy latest Canadian oil and gas company to lay off staff - Reuters

2023-06-06 17:49:50 ET

TC Energy ( NYSE: TRP ) is cutting an unspecified number jobs to "optimize value," Reuters reported late Tuesday, citing a company spokesperson.

The number of layoffs is believed to be much smaller than the job cuts announced last week at Suncor Energy ( SU ), which told employees it would eliminate 1,500 jobs.

Earlier this year , Imperial Oil ( IMO ) cut the number of contractors working at its Kearl oil sands project.

TC Energy ( TRP ) owns and operates the Keystone oil pipeline and transports 25% of all the natural gas consumed in North America.

More on TC Energy:

• Financial and valuation comparison to sector peers
• Analysis: TC Energy Has Substantial Catalysts
• Stock price return: Up 5.5% YTD, down 25.5% in the past 12 months

For further details see: