Calgary-Based Crescent Point Energy Cutting Workforce By 17%

1,085 people work for the company.

In the latest example of trouble in Canada’s energy industry, Calgary-based Crescent Point Energy Corporation is cutting their workforce by 17%.

They are also selling some of their infrastructure assets.

According to BNN Bloomberg, Crescent Point CEO Craig Bryksa said “This restructuring is difficult, however we needed to adjust the organization to match our current business needs. We are all focused on executing our transition plan and are excited about Crescent Point’s future.”

There are currently 1,085 employees at the company. The company says they will save $50 million with the job cuts.

We continue to see struggles in the energy sector, as the realization grows that the Trudeau government is unwilling to confront the foreign money trying to destroy the Canadian energy industry, and as investors notice that the new regulatory process is almost purposely designed to make sure projects aren’t approved.

Unfortunately, these job losses at Crescent Point aren’t the first, and won’t be the last. Until we get leadership that actually wants our energy industry to thrive, the whole sector will remain at risk.

Spencer Fernando

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Beverley Campbell
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Beverley Campbell

More shocking blows caused basically by poor or nonexistent leadership in Ottawa, repercussions will be long lasting.

Ron Voss
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Ron Voss

Crescent Point’s Philosophy on Climate Change
https://crescentpointenergy.metrio.net/indicators/environmental_stewardship/climate_change/philosophy_ind
“We are also unique amongst our industry peers in that since 2001, we have contributed $200 million to our internal, voluntary Climate Change Initiatives Fund. This fund is dedicated to ongoing environmental restoration, emissions reduction and end-of-life well abandonment….We support climate change policies and governments as they study solutions that make sense locally. We will continue working toward pragmatic emissions reduction frameworks that focus on innovation and investment in technology.”
Another energy company throwing up the white flag on man-made, er, people-made climate change and enduring, or at least its workers enduring, the consequences.

Del
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Del

Just another indication that the energy industry is collapsing. This is going to escalate quickly. 180 jobs has lost has a ripple effect so Trudeau can expect 600 or more to be effected.

Eric Blair
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Eric Blair

If by chance this Trudeau character gets in again, he’ll be the last prime minister of Canada, as we know it. The west (all but BC) will have a referendum on whether or not to stay with the rest of Canada. I can see them giving Ottawa an ultimatum “either things change to our liking or we are out”. That ought to get their attention. The only question I have is will Ontario be part of it thus leaving Quebec along with the maritime provinces. I cannot see Quebec carrying that burden. And it is all because of Trudeau, the… Read more »

Chic Tyson
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Chic Tyson

Let’s send the protesters to Ontario and Quebec to block the sale of autos and planes. After all they are bigger polluters than the oil patch! And nobody consulted me when they built these plants. Bet they would just love that!