CALGARY, Alberta (Reuters) - Canadian oil and gas infrastructure company Gibson Energy laid off staff across its Canadian operations on Thursday, according to a company spokeswoman who declined to provide exact numbers.
Calgary-based Gibson Energy, which provides storage and transportation services for energy companies across North, has been hard hit by a prolonged slump in oil and gas prices.
New Chief Executive Steve Spaulding took charge of the company in June and has been focused on cutting costs.
“These are difficult decisions, but the move is part of a transition to a new organizational structure that will lay the foundation for long-term success,” spokeswoman Amanda Condie said in an email.
In August, Gibson’s largest shareholder, M&G Investment Management Ltd, released an open letter urging the company to launch a strategic review process to cut costs and boost returns.
Reporting by Nia Williams; Editing by Dan Grebler