Encana reports $379-m Q1 loss

Encana Corp. released first quarter results on Tuesday, reporting a $379-million loss. Despite the large deficit, it was actually less of a loss compared to the first quarter of last year when the company was down $1.71-billion.

CEO Doug Suttles said, “It’s a tough environment out there for absolutely everybody and everyone, if you will, is doing their part to make sure that North America is competitive. I think you are seeing that in these results.”

The company has a current workforce of approximately 1,600 employees – nearly half of its former status in 2013.

(Written by: N. Reitmayer; Original information source: Calgary Herald)

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