March 22, 2017 / 3:07 PM / 6 months ago

Canada's Enbridge to cut 1,000 positions after buying Spectra

CALGARY, Alberta, March 22 (Reuters) - Canada’s Enbridge Inc said on Wednesday it would cut about 1,000 positions, or 6 percent of its work force, after buying Spectra Energy Corp of Houston.

The takeover, the most significant energy deal since oil and natural gas prices crashed in mid-2014, had highlighted how pipeline companies were under pressure to merge as they grappled with overcapacity and sliding tariffs that had slowed dividend growth and unnerved investors. (Reporting by Ethan Lou in Calgary, Alberta; Editing by Chizu Nomiyama)

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