Calgary-based Imperial Oil to cut about 1,000 jobs by end-2027

Calgary-based Imperial Oil said Monday it will reduce its workforce by about 20 percent by the end of 2027, a move the company described as part of a broader restructuring that will concentrate activity at operating sites in Alberta. The planned cuts would affect roughly 1,000 employees based on a year-end 2024 head count of about 5,100, the company said.

Imperial said the restructuring is intended to sharpen operational focus and use technology to maximize the value of existing assets. The company expects to record a one-time pre-tax restructuring charge of about C$330 million in the third quarter of 2025 and projects the measures will lower annual expenses by about C$150 million by 2028. Imperial also said it is well positioned to meet or exceed its medium-term production and unit-cost targets at its Kearl and Cold Lake operations in Alberta.

Company executives acknowledged the personal toll of the cuts. "We recognize the considerable impact this restructuring will have on our employees and their families," an Imperial executive said, adding the company is committed to supporting affected workers through the transition. Company materials also said the changes aim to ensure the...