Federal Budget

Canada's TC Energy laying off staff

Canada's TC Energy laying off staff

Business

The company transports 25% of all the natural gas consumed in North America

 (Reuters) - Canada's TC Energy is cutting some jobs to "optimize value" a company spokesperson said, without giving details of how many positions have been impacted.

News of the job cuts at TC Energy comes a week after Suncor Energy told employees it would eliminate 1,500 jobs. Earlier this year, Imperial Oil cut the number of contractors working at its Kearl oil sands project.

A Calgary-based industry source said the number of layoffs at TC Energy was believed to be much smaller than the job cuts at Suncor, where new CEO Rich Kruger has vowed to reduce costs, improve efficiency and simplify operations.

TC Energy said the company continually reviews its operations and as the business evolves some positions are reduced.

"These decisions are difficult but necessary to optimize the value for our business," a TC Energy spokesperson said in an email.

The Calgary-based energy infrastructure firm owns and operates the Keystone oil pipeline and transports 25% of all the natural gas consumed in North America.