CBC.ca | Oil firms cut jobs, budgets as crude drop hit earnings The Globe and Mail While many companies have taken steps that will reduce planned future production, few have pulled back on existing production and are now grappling with a continuing supply glut that is weighing on oil prices and profit margins. The sharp drop in oil ... Cenovus to Cut 800 Jobs, Freeze Wages After Oil Slide Cenovus loss widens to $472 million as oil company slashes spending plans Spending cuts, layoffs a daily event as price rout showing no sign of recovery |