Image courtesy of Husky Energy.

Calgary-based Husky Energy said Tuesday that it has cut more jobs in response to low crude prices.

The company told Bloomberg that it cut jobs across its operations but would not disclose the total number of layoffs.

“These are difficult decisions and we will continue to take the steps necessary to ensure the company’s resilience through this cycle and beyond,” Husky spokesman Mel Duvall told Bloomberg.

According to the Calgary Herald, social media posts suggest that as many as 500 positions were eliminated.

Husky confirmed in October that it had eliminated about 1,400 positions as of the end of the third quarter of 2015.

About 80 percent of those job cuts affected contractors and 20 percent of the cuts impacted full-time employees.

That month the company also extended a company-wide salary freeze that was put into place at the end of 2014.

Last month, Husky slimmed down its capital its 2016 capital plan and halted its dividend to cope with crude price volatility.

The company  revised its capital plan down to between $1.44 billion to $1.58 billion from a previous range of $1.99 billion to $2.12 billion.

The company will not issue a cash or share dividend for the fourth quarter of 2015.

Husky had introduced a stock dividend in the third quarter as an interim measure in lieu of a cash dividend.

The company added that its board will continue to review the dividend on a quarterly basis.

Husky now expects to produce between 315,000 to 345,000 barrels of oil equivalent per day in 2016, down from its previous guidance of 330,000 to 360,000 boe/day.


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