NEXEN Energy, a subsidiary of China's CNOOC, has announced plans to retrench 340 positions from its North American workforce plus aims to lay off about 60 in the UK.
"While regrettable, these organisational changes are necessary to align the company with our reduced capital spending program," Nexen CEO Fang Zhi said.
Subsequent media reports indicate that 300 of the North American job cuts will be felt in Canada with most hitting the Calgary head office.
Nexen is believed to employ about 3000 people including 719 in the UK.
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