Flat drilling activity in Canada will result in more layoffs amid low-growth outlook for oil
CALGARY – Drilling activity in Western Canada is poised to remain flat over the next year as drillers believe oil and gas sentiment is nearing an “all-time low” in the face of fresh forecasts that predict weak Canadian industry growth over the longer term. The Canadian Association of Oilwell Drilling Contractors’ annual activity forecast released Wednesday predicted there will be 13,731 direct and indirect jobs losses in the oilfield during 2020.
You are here: Home › 6 000 jobs lost in one week . Asiagate Black Rhinos bulawayo caps united Castle Lager Premier Soccer League Chicken Inn china cricket cuthbert dube Didymus Mutasa Dynamos economy elections FC Platinum Grace Mugabe harare Health and fitness Highlanders How
The recent flood of job losses announced by manufacturing companies in Northern Ireland further demonstrates the utter failure of the local governing Assembly’s economic strategy. The decision by Michelin to shut its factory in Ballymena, directly resulting in 860 job losses, triggered a coordinated
The loss of more than 200 jobs at Federated Co-operatives’ food distribution warehouse in Calgary caps a gloomy week for local workers, one that’s seen almost 1,000 positions evaporate within a few days.
It’s a sobering reminder that the employment situation remains fragile in the city and across the province heading into the final month of 2019.
In the past week alone, several large-scale layoffs were announced, some tied to provincial budget cuts — such as at the University of Calgary and Calgary Board of Education — while other job losses unfolded in the private sector.
“What we have seen this week is a whole bunch of things coming together at once. Interestingly, none of this is in the energy sector but it is in other parts of the economy that are important,” Mayor Naheed Nenshi said Friday.
Opinion: A Quebecer's letter to his Western cousins
Dear Alberta and Saskatchewan kin, Here in Montreal, I can feel your frustration. It’s intense enough to roll over the prairies and across the Great Lakes. You feel unheeded and rejected. You’re angry enough to want to knock the bejesus out of the rest of us. “Can’t they see that we’re suffering? Can’t they see that jobs are disappearing, office towers are emptying out, homes are being lost and families are facing uncertainty? Can’t they see that none of this has to be if only we can get our product to market?” Many of you are thinking that enough is enough and that it’s time to cut your ties with the rest of the family.
The high-profile impending closure of Telltale Games has sparked a conversation about development practices within the video games industry, and their impact on employees. However, Telltale wasn’t the first or the only casualty in the past twelve months.
Economic analysis by Urban&Civic's planning consultant, Lichfields, shows the Westside development first phase could deliver almost 1 , 000 jobs to Urban&Civic last week submitted an official planning application for the first phase and the latest jobs figures come as major boost during Wolverhampton
“You know in a big economy like ours, these are not massive macroeconomic numbers, but I am worried that it’s a harbinger of a bigger trend.”
Given the state of the economy, that is a legitimate concern, although there is a danger of viewing one lousy week as a precursor to more grim news.
Regardless of the reason, it all hurts, coming as 67,000 Calgarians — and 170,000 people across the province — are already looking for work.
“It reflects challenging conditions in the private-sector part of the economy, as well as government restraint,” said TD Bank deputy chief economist Derek Burleton in an interview.
“The difficult thing is we don’t see much improvement in 2020.”
On Thursday,next April. The move came after it lost a key contract to provide groceries to Calgary Co-op, which has decided to go with a competitor.
WeWork reportedly planning to layoff thousands as it attempts to reverse its fortunes
WeWork could lay off as many as 6,000 employees as part of painful cost-cutting measures to turn its business, the New York Times reported. As many as 6,000 employees could ultimately be laid off, one person told the Times.Last week, WeWork told investors it lost $1.25 billion on revenue of $934 million in the third quarter — losses were up more than 150% from the same period a year ago.© Provided by CNBC LLC Signage is seen at the entrance of the WeWork offices on Broad Street in New York.
Black Desert, from creators Pearl Abyss and Publishers DAUM Kakao, has made almost 1 .9 Million Euro in one week through its cash shop. Using thier own special Black Desert engine created to render the world, you can see why people might want to splash out with a little extra cash for that
READ ALSO: CBN to eliminate forex black market. According to Daily Sun, he lamented that the union was I feel sad to say that over 6000 members of our union have lost their jobs since the recession began “In fact, Intels alone retrenched over 3, 000 workers because of harsh operating environment.
The news follows hardware giant Lowe’s Canada confirming Wednesday that employ 305 workers as part of a broader national reorganization.
Two stores in Calgary and another in Airdrie that employ 185 are to close by mid-February.
A tough provincial budget last month is also triggering job losses in the public sector.
On Wednesday, thewill end on Jan. 2 as it moves to cover a large budget gap.
The CBE said provincial budget cuts have left the province with a $32-million shortfall, although Education Minister Adriana LaGrange countered there’s “no reason” the board should be eliminating front-line teaching positions.
250 jobs being eliminated at University of Calgary following 2019 Alberta budget
The U of C was one of the educational institutions expected to see the biggest hit after the government slashed advanced education funding. The news of the job eliminations came the same day students rallied outside the Alberta legislature against UCP cuts they say are getting in the way of their education.
Last week , it urged the government and the European Union to fight sanctions imposed by Donald Trump’s Republican administration, which it said would harm steel exports. The GMB said London, Scotland and the north-west lost 27%, 22% and 21% of their manufacturing jobs respectively.
Almost 1 , 000 job roles have so far been lost after construction giant Carillion collapsed into liquidation last month. The Official Receiver, part of The The firm employed 20,000 people in the UK and held a variety of public sector contracts ranging from building new hospitals to providing school dinners.
Meanwhile, the University of Calgary said it would axe 250 positions, with 150 jobs cut in two phases, beginning this month. Another 100 positions will be abolished through attrition, retirements and resignations.
Finally,— it has offices in Calgary and Edmonton, as well as Devon and Vegreville — after its budget was trimmed by the province, although it couldn’t specify where the job losses would occur.
“The public sector (layoffs) are distinct and they really put to test the provincial government’s claims that short-term pain will lead to long-term gain in terms of job creation,” said Nenshi.
“Let’s remember that public sector jobs … these are people, families, who are very concerned about their future right now.”
Other layoffs have also hit the city in recent weeks, including cuts at Perpetual Energy and Husky Energy.
Most petroleum producers are now assembling their 2020 budgets and several have already reduced their capital programs, although it’s not universal. Oilsands producer MEG Energy said Thursday it will boost its capital expenditures by 25 per cent to $250 million next year.
Braid: Ottawa will be judged by action, not visits and talk
Braid: Ottawa will be judged by action, not visits and talkDeputy Prime Minister Chrystia Freeland arrived in Alberta Monday amid genuine crisis.
I only lost my own money, not anyone else's. And it was just such a rush, turning an investment of around , 000 into almost million by placing So how did I get started on this wild path? I had bought my first Bitcoins in 2013, when they were worth less than 0. I authorised a website called
Day trading is a full-time job , she said. But during volatility, it’s almost impossible to tell what will happen and how long the ups and downs will sustain, he said. Never invest more than you can afford to lose . There’s one more important factor in all of this: Never use money you actually need, or trade
Recent job losses are consistent with disappointing economic reports that began rolling out last year and have continued during 2019, said University of Calgary economist Trevor Tombe.
For example, Statistics Canada reported Friday that retail sales in Alberta fell by 2.7 per cent in September from a year earlier, a sign that consumer confidence is lagging.
“The Alberta economy may very well be contracting in 2019 and the layoffs we see … are a symptom of those broader aggregate levels of weakness,” said Tombe.
“We are definitely not increasing employment fast enough to actually improve the overall labour market, because the population is growing.”
It’s not all negative, as federal data show overall provincial employment is up about 20,000 in the past 12 months.
Yet, the unemployment situation remains challenging, with Alberta’s jobless rate sitting at 6.7 per cent in October, up slightly from September.
Another measure of the employment problem — the number of group terminations reported to the provincial government — has also been increasing this fall, with 12 large-scale layoffs affecting 1,150 employees recorded since the start of October.
It’s the worst back-to-back months seen in the past two years.
However, the overall number of Albertans affected by group terminations throughout the year is tracking below annual levels seen since the downturn began in 2014. (Employers are required to notify the province of layoffs involving 50 or more employees at a single location.)
Alberta’s economy should improve in 2020 as oil curtailment winds down and pipeline capacity increases later in the year, Burleton said Tuesday in a speech to the Calgary Chamber of Commerce.
He expects growth will return to most key sectors of the provincial economy, including oil and gas, agriculture, manufacturing and construction.
Over the longer term, Alberta will post the top economic growth in the country in the coming decade, averaging about 2.2 per cent annually, according to TD.
“When you come back to a lot of the strengths of the region, I do think Alberta is going to be OK,” Burleton told the audience. “Longer term, that’s where my optimism lies.”
After a bruising week, any and all optimism is sorely needed.
Chris Varcoe is a Calgary Herald columnist.
NDP leader promises to push for climate action, affordable housing in Iqaluit .
Nunavut’s new member of Parliament Mumilaaq Qaqqaq toured Jagmeet Singh, the leader of the NDP, around Iqaluit this weekend.MP Mumilaaq Qaqqaq and NDP leader Jagmeet Singh met with government of Nunavut and Inuit leaders on Friday, took in a hockey game and Christmas craft fair on Saturday and rounded out the visit with a climate change announcement.