Murray Wood: Who's hot... and who's not
Every Friday, Murray Wood takes a look at the week's news and decides who's hot, and who's not. This week's list include...
Alberta Premier Danielle Smith says Imperial Oil’s “very disappointing” plan to lay off roughly 20 per cent of its workforce by 2027 reinforces the need to build more pipelines.
Smith is blaming Ottawa for the layoffs at the Calgary-based company.
“The industry for the last 10 years has been hampered and hobbled by federal government decisions,” she told an unrelated news conference in Calgary on Tuesday.
“This is what happens when you have uncertainty, and this is part of the reason why we have to work very quickly to get to a resolution with Ottawa so that we can start building again … no one likes to see these kinds of consolidations.
“If we can realize the aspiration of building our pipelines north, south, east and west, doubling our production, then there’s a lot of opportunity for people to get re-employed in this sector.”
Imperial said Monday the cuts are part of a broader restructuring plan and would save the company about $150 million annually.
Company chairman John Whelan said in a statement the restructuring and layoffs will ensure Imperial continues to deliver returns and value for shareholders.
“We recognize the considerable impact this restructuring will have on our employees and their families,” Whelan said.
“We are deeply committed to supporting our employees through this transition.”
The company also said part of the restructuring will see Imperial “further consolidate activities to its operating sites” in Alberta.
A spokesperson for the company, Lisa Schmidt, said in an email Tuesday that the company has reached a tentative agreement to sell its multi-building Calgary office complex and lease back the space it will still need.
“We plan to maintain a presence in Calgary,” said Schmidt.
Data from LSEG Data and Analytics shows the layoffs would impact about 1,000 jobs, based on an employee count of 5,100 as of Dec. 31, 2024.
Federal Energy Minister Tim Hodgson also said Tuesday he’s disappointed with the cuts.
He said he’s working to understand what went into Imperial’s decision and that the government will explore ways to support the workers losing their jobs.
“These are skilled, dedicated people who have greatly contributed to Alberta’s energy sector and Canada’s economy, and my thoughts are with them and their families as they receive this difficult news,” Hodgson said on social media.
In August, Imperial reported $11.23 billion in total revenue and other income during the second quarter, down from $13.38 billion in the same quarter a year earlier.
Hodgson said it’s his mission to make sure energy companies like Imperial stay prosperous as the government works to make Canada an “energy superpower.”
“We are taking steps today to ensure the Canadian energy sector will continue to provide careers and prosperity for generations to come,” he said.
Alberta Opposition NDP leader Naheed Nenshi said Monday the company’s plan represents “a significant blow to Calgary and Alberta’s economy.”
Nenshi called on Smith and her United Conservative Party government to develop a plan to keep good paying jobs in Alberta, especially with its unemployment rate being one of the highest in Canada.
This report by The Canadian Press was first published Sept. 30, 2025.
Jack Farrell and Fakiha Baig, The Canadian Press
