Talisman cuts 90 Calgary head office jobs

Wed Feb 20, 2013 12:30pm EST
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CALGARY, Alberta Feb 20 (Reuters) - Talisman Energy Inc has cut 90 jobs at its Calgary head office, or 7 percent of the employees there, as it copes with depressed North American natural gas prices, the company said on Wednesday.

Talisman, which is restructuring its operations in an effort to lift a long-languishing stock price, said it still employs 1,500 staff in Canada, including 1,200 in Calgary.

The company signaled early this year that job cuts would be part of efforts to reduce its C$1.3 billion ($1.3 billion) of annual general and administrative costs by 20 percent.