June 20, 2017 / 5:30 PM / a month ago

Cenovus CEO says company cut some jobs as it reviews operations

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TORONTO, June 20 (Reuters) - Cenovus Energy Inc Chief Executive Brian Ferguson said on Tuesday that the company expects to cut some jobs as part of an effort to reduce costs by C$1 billion ($754 million).

Ferguson disclosed the plan in a briefing with reporters, saying the company would make the cuts as it assessed its operations to identify "redundancies" and "overlap" in the company.

$1 = 1.3261 Canadian dollars Reporting by Solarina Ho in Toronto; Editing by Jim Finkle

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