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Image courtesy of TransCanada.

Calgary-based TransCanada has withdrawn its Nebraska route application for the Keystone XL pipeline and announced a new round of layoffs.

According to CBC News, the transportation company confirmed it is undertaking another round of layoffs but declined to immediately disclose how many employees will be affected.

The company added that it will detail how many direct and contractor jobs it has cut after employees have been notified.

“These changes align with changes that we’re making to our structure to remain competitive and deliver shareholder value, as well as in response to falling oil prices and its effect on our customers,” TransCanada spokesman Mark Cooper told CBC News.

In September, the company said it will cut about twenty percent of its senior leadership positions this year and will evaluate the need for further staff cuts.

News of the layoffs came on the same day that TransCanada withdrew its application seeking a route through Nebraska for the Keystone XL pipeline.

According to Reuters, the company has informed the Nebraska Public Service Commission that it is withdrawing the application as it considers the future of the 830,000 barrel per day pipeline.

After nearly eight years of regulatory battles, President Obama formally rejected the pipeline earlier this month.

The White House said that President Obama decided to reject the $8 billion pipeline after the U.S. State Department concluded the project would not “serve the national interest.”

TransCanada added that it is still committed to the project and it has not ruled out reapplying to the commission for a route.

“We believe it is inappropriate to ask the Commission to continue to move forward on a process that has legally set time lines, while we continue to consider our next course of action,” Cooper told Reuters.