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FINANCIAL NEWS
Abu Dhabi’s TAQA cuts 50 jobs at Canada unit
30 Jan 2013
(MENAFN) Calgary-based TAQA North is cutting 5 percent of its staff as part of its ongoing operations restructuring drive, Reuters reported.
The Canadian unit of Abu Dhabi National Energy Company (TAQA) said it has fired 50 out of its 950 employees.
The company explained that the layoffs were not due to low Canadian oil prices, but it will help reduce costs.
According to Canadian daily Edmonton Journal, 40 positions were eliminated in the head office, while the remaining 10 layoffs are in the field.
Leroy McKinnon, a spokesman for TAQA North, said the company is streamlining its operations into a single structure that will oversee all its business units instead of being organized on a regional basis.
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