Talisman Energy Inc Prepares For Job Cuts As Canada's Oil Patch Struggles-DJ

Dow Jones reported that Talisman Energy Inc is preparing to cut its workforce as it works to substantially reduce office costs amid a broader push toward better profitability. It's unclear what percentage of its workforce, which stood at 3,700 at the end of 2011, will be let go. Talisman spokeswoman Phoebe Buckland said cuts will include people, offices, travel, IT. It's the overhead as well as the people cost. Talisman's changes, which include the departure of executive vice-president of special project Tony Meggs, come months after long-time Calgary corporate Hal Kvisle took over as Chief Executive Officer.