COVID-19 crisis.Oil and gas producer Ovintiv Inc. is the latest to reduce staff, confirming it handed layoff notices to some of its 2,600 staff in Canada and the United States starting on Monday.
It said it would reveal the number of layoffs on Thursday afternoon.“We feel like the industry and Ovintiv is transitioning to lower production growth levels.
We just feel that’s the direction we’re headed,” director of communications Cindy Hassler said.“The new model we feel going forward will combine free cash generation, stronger balance sheet and modest growth.