Market volatility behind the location change
Suncor Energy has announced it will move its Petro-Canada head office from two sites in Ontario to Calgary next year.
The move will impact 700 workers and is part of efforts by the company to remain competitive by integrating the downstream business with the rest of Suncor to be more efficient. The downstream operations represent Petro-Canada’s refineries through to retail and wholesale sales, including the Petro-Canada and Petro-Pass brands.
According to Sneh Seetal, Suncor’s director of communications, not all positions will move, as some workers still needed to remain close to customers or businesses, and some employees may choose not to move.
This announcement follows earlier news that Suncor would eliminate 10% to 15% of its workforce (1,930 jobs) over the next 18 months as a result of cost-cutting to deal with low oil prices and market volatility. Altogether, Suncor has a staff cohort of 12,889 employees at the end of 2019.