Alberta-based Talisman Energy is planning to cut up to 15 percent of its head office workforce in response to low oil prices.

The company will layoff around 150 to 200 employees at its head office in Calgary, Reuters said.

The cuts will effect both contractors and employees.

Workers began receiving layoff notifications this week.

“With low oil prices we have reduced our 2015 capital spending plans and with that reduced activity comes the requirement to make [job] reductions,” Talisman spokesman Brent Anderson told Reuters.

Talisman said the layoffs are not related to Repsol’s recent $8.3 billion acquisition of the company.

Spain’s Repsol won approval from an Alberta court last month to move forward with its purchase of Talisman.

The deal is expected to close in the second quarter of 2015.

Talisman also plans to trim its 2015 capital program down to $2.1 billion, a 30 percent drop from 2014.


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