Equinor to cut jobs in U.S., Canada and UK amid oil price fall
Wednesday, August 26, 2020
OSLO, Aug 26 (Reuters) - Norwegian oil and gas firm Equinor is set to significantly cut jobs in the United Sates, Canada and Britain to adjust to the fall in the oil prices, a company spokesman said on Wednesday.
The company plans to reduce number of its employees in those countries by about 20% and number of contractors by about 50% to ensure that its business is profitable in a lower price scenario, the spokesman Erik Haaland told Reuters, adding that the targets were communicated internally on Tuesday.
In addition, this year Equinor will not drill any new unconventional wells in the United States, where it had acreage in the Bakken and Marcellus shale formations.