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“As with any merger of this type, there will be overlap and there will be some difficult decisions as we work to create a combined organization best positioned for the future,” Husky spokeswoman Kim Guttormson said.
Cenovus spokesman Reg Curren also confirmed the cuts.
Guttormson added that many details had yet to be determined as part of the integration planning process and the transaction has not yet closed.
The $3.8 billion combination announced on Sunday, the largest Canadian oil and gas deal in nearly four years based on enterprise value, may pressure peers to get bigger or sell.
Half of the $1.2 billion in targeted savings will be achieved through job cuts and reductions in corporate overhead costs, including streamlined IT systems and procurement savings, the companies said.
Rival producer Suncor Energy Inc this month said it would cut up to 15 per cent of its workforce over the next year and a half, while Exxon Mobil Corp was expected to cut jobs soon in the United States and Canada.
© Thomson Reuters 2020
