Oil fell below $40 on Wednesday for the first time since August, dragging down the dollar and triggering more layoffs.
Today Enbridge let go of more than 500 employees, and TransCanada Pipeline announced it will be cutting its workforce as well.
Enmax cut 60 jobs today from professional and management teams. No front-line staff were affected.
The Canadian Association of Oilwell Drilling Contractors says these are the toughest times in a generation. Its 2016 forecast predicts a nearly 60% drop in the energy sector to come.
The Canadian Association of Petroleum Producers said 35,000 jobs have been lost so far.
And there are ripple effects beyond the energy sector. Most corporate Christmas parties have been downsized or cancelled this year.
Even the Calgary Stampede is cutting back due to loss of banquet bookings, sponsors and grants.
“Saying goodbye to 19 people who are part of the heart and soul of this organization is not an easy thing to do,” said Stampede CEO Warren Connell. “The layoffs were across the board, all areas of the organization were impacted and our hearts go out to them but our organization had to be ready to move into 2016.”
Hundreds of jobs losses are also taking place this week across the country at Bell Media, the parent company of CTV.
